In a previous edition of Quoted we discussed the European Commission’s change in approach towards state aid in tax matters, which had the objective to address special tax treatment and tax avoidance of, mainly, multinationals. Now, three years later, we see the first results from the European Courts coming in and some ongoing state aid investigations being closed without a finding of state aid. In this edition of Quoted we would like to give you an overview of current developments. In paragraph 2 we will look into what became of the European Commission’s EU at arm’s length principle by focussing on the Starbucks and FIAT judgements. Paragraph 3 will touch upon the need for the European Commission (Commission) to differ between individual tax rulings and special tax schemes, which resulted in the opening of 39 ‘new’ investigations into Belgian Excess Profit rulings. Paragraph 4 will address the handling of mismatches and the use of general anti-avoidance rules (the McDonald’s and ENGIE decisions). Paragraph 5 will conclude with looking ahead.