The Irish League of Credit Unions has won at least one of its battles on the taxation front, having emerged victorious in its campaign to retain its exemption from corporation tax.

The league's tax-exempt status was threatened after a complaint was made to the Competition Directorate of the EU Commission that the favourable tax treatment accorded to credit unions amounted to a State aid.

But a spokeswoman for the Department of Enterprise, Trade and Employment said that, although the Government had not yet received official notification, it understood that the Commission had not upheld the complaint.