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ARTICLE · 20 FEBRUARY 2023

European Commission Seeks Stakeholders' Views On Draft Foreign Subsidies Implementing Regulation

Crowell & Moring LLP
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Last year, the European Union (EU) legislature adopted a far-reaching regulation aimed at tackling the distortive effects on EU markets of financial support provided by non-EU countries...

European UnionGovernment, Public Sector
Vassilis Akritidis
Vassilis Akritidis
Karel Bourgeois
Karel Bourgeois
Karl Stas
Karl Stas

Key Takeaways

  • The European Commission's draft Implementing Regulation reduces uncertainty over the implementation of the EU Foreign Subsidies Regulation, but questions remain, such as when economic operators participating in public procurements below the notification thresholds should "list" all foreign financial contributions received.
  • The draft Implementing Regulation reduces the reporting burden on companies notifying high-value concentrations or public procurements, but companies will still have to keep track of all foreign financial contributions to determine whether they meet any of the notification thresholds.
  • Stakeholders can submit comments on the draft Implementing Regulation to the European Commission before midnight CET on 6 March 2023.

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