Upping the Ante on High-Value EU Public Procurements – the Incoming Foreign Subsidies Reporting Rules (March 2023)
Client Briefings
Introduction
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This briefing provides an update on the EU Foreign Subsidies Regulation (FSR) and its impact on EU public procurement procedures.
The FSR enables the European Commission to identify, assess and remedy the existence of distortive foreign subsidies during certain public procurement procedures governed by EU law.
Bidders participating in high-value procurement procedures will be required to report on "financial contributions" that they have received from third countries (i.e. non-EU Member States), and face the risk of exclusion or fines for non-compliance when the rules take effect in late 2023. This could result in a significant additional compliance burden.
