Getlink Opposes Local Tax Revision in Great Britain
Eurotunnel, a subsidiary of Getlink SE, is challenging the British Valuation Office Agency's plan to increase Business Rates by an estimated 200%. The company is concerned about its investment capacity in Great Britain.
Significant Tax Increase Proposed
The British Valuation Office Agency has informed Eurotunnel of its intention to increase the taxable value used as the basis for calculating Eurotunnel's Business Rates, a subsidiary of Getlink SE, by nearly 200%. By 2025, Eurotunnel expects to pay 26 million euros in these local taxes. According to the group, if the transitional relief is maintained, the increase could reach 15 million euros in 2026.
Disagreement and Negotiation Plans
Eurotunnel has expressed its disagreement with this proposed increase, which it considers unjustified and potentially detrimental to its investments in Great Britain. The company has announced its intention to negotiate with the Valuation Office Agency and other relevant authorities until the final decision, expected by the end of March 2026. If the mentioned amounts are confirmed, Eurotunnel plans to defend its interests by all available means, including invoking the foundational texts of the Franco-British Concession of 1986.
Impact on Competitive Position
Getlink, through Eurotunnel, is the concessionaire of the Channel Tunnel infrastructure until 2086 and operates transport services between France and the United Kingdom. The group considers this increase as an unjustified penalty compared to its competitors, who benefit from less severe taxation despite having a more carbon-intensive activity. Getlink emphasizes the importance of its cross-channel transport services and the Eleclink electrical interconnection for the energy balance between France and Great Britain.
