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German taxpayers funding Indian tyre factory expansion

Tyre manufacturers have announced the closure of several factories within Germany in recent times, not least as a result of cost competitive competition from abroad. This has not stopped the Deutsche Investitions- und Entwicklungsgesellschaft (DEG), a development bank indirectly owned by Germany’s federal and state governments, from providing JK Tyre & Industries Ltd with a long-term loan of 30 million euros to help it expand a plant in India.

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Pirelli to use ‘Patent Box’ tax breaks to further shift high value/standard balance

Pirelli is looking forward to tax concessions worth millions through its participation in the ‘Patent Box’ tax regime. Yesterday the tyre maker signed an agreement with the Italian tax office covering the 2015 to 2019 fiscal years; it estimates that the tax benefit for the three fiscal years to 2017 alone will amount to approximately 54 million euros.

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