Traduction de «vantaggio pecuniario » (Italien → Anglais) :

financial advantage | financial gain

pecuniary advantage | pecuniary benefit

first mover advantage | FMA [Abbr.]

privilege [ parliamentary prerogative | parliamentary privilege ]

tariff preference [ preferential tariff | tariff advantage | tariff concession ]

tax relief [ relief from taxes | tax abatement | tax advantage | tax allowance | tax concession | tax credit | tax deduction | tax reduction | Tax incentive(STW) | tax credits(UNBIS) | tax deductions(UNBIS) ]

As regards investment aid not covered by Regulation (EU) No 1305/2013 as part of the rural development programme or as additional financing for such a rural development measure, where the aid is granted in forms that provide a direct pecuniary advantage (for example, direct grants, exemptions or reductions in taxes, social security or other compulsory charges, etc.), the Member State must demonstrate why other potentially less distortive forms of aid such as repayable advances or forms of aid that are based on debt or equity instruments (for example, low-interest loans or interest rebates, State guarantees or an alternative provision of ...[+++]capital on favourable terms) are less appropriate.

In this respect, where the aid is awarded in forms that provide a direct pecuniary advantage (such as direct grants, exemptions or reductions in taxes or other compulsory charges, or the supply of land, products or services at favourable prices), the Member State concerned must include an analysis of other options and explain why or how other potentially less distortive forms of aid such as repayable advances or forms of aid that are based on debt or equity instruments (such as State guarantees, the purchase of a share-holding or an alternative provision of debt or capital on favourable terms) are less appropriate.

In this respect, if the aid is awarded in forms that provide a direct pecuniary advantage (for example, direct grants, exemptions or reductions in taxes, social security or other compulsory charges, or the supply of land, goods or services at favourable prices, etc.), the Member State must demonstrate why other potentially less distortive forms of aid such as repayable advances or forms of aid that are based on debt or equity instruments (for example, low-interest loans or interest rebates, state guarantees, the purchase of a share-holding or an alternative provision of capital on favourable terms) are not appropriate.

Firstly, it is pursuant to State measures that these risks would not arise, so there is no justification for France Télécom to draw a pecuniary advantage.