Today the European Union (EU) concluded that selective tax advantages granted by Belgium under “excess profit” tax rulings are illegal under EU state aid rules, and ordered Belgium to recover approximately €700 million ($763 million) from at least 35 multinational companies.  On the basis of binding tax rulings, the companies were able to reduce their recorded profits by between 50% and 90% to discount for “excess profits” that allegedly resulted from being part of a multinational group.