On 19 September 2024, the Court of Justice of the European Union (CJEU) issued its judgment concerning the European Commission's 2 April 2019 decision finding that the group financing exemption allowed under the UK's controlled foreign company (CFC) rules gave an illegal tax advantage to certain multinationals, constituting illegal State aid. As previously reported, the decision was upheld by the General Court on 8 June 2022. However, the CJEU has found that the Commission and General Court erred in law when considering that the CFC rules, instead of the general UK corporation tax system as a whole, were the correct...