EU tax probe of Belgian deals

The EU is investigating Belgium’s tax deals with multinational corporations, potentially dragging dozens more companies into widening probes of sweetheart fiscal pacts handed out by national governments.

Building on investigations of Apple in Ireland and Amazon in Luxembourg, the European Commission is targeting Belgium’s so-called excess-profit rulings.

Companies could get deductions on 50% of the profits covered by the Belgian agreements and in some cases, as much as 90%, the regulator.