Thursday, November 6, 2014

It seems that Luxembourg IS a tax haven but who cares?

Well, the self-righteous EU, the equally self-righteous media (whose employees make sure that they avoid as much tax as possible) and, as of now, Commission President Jean-Claude Juncker, whose main political achievement has been the premiership of that little, highly successful state.
Governments in Europe and all over the world have missed out on billions of euros of potential tax income because companies channeled their profits through Luxembourg, an investigation by the International Consortium of Investigative Journalists and media across 32 countries has found.

A total of 343 companies, including Swedish furniture maker Ikea, German financial institution Deutsche Bank, and American technology company Apple have put in place complex financial structures to pay as little tax as possible.

These schemes were approved by the tax office of Luxembourg at a time when Jean-Claude Juncker was the duchy's PM.

On Wednesday (5 November), the investigative journalists published 548 leaked Luxembourg tax rulings from 2002 to 2010.
Goodness me, how sad. Governments not getting the money they and their employees think they are fully entitled to. It seems that Mr Juncker has always defended his country's banking laws in the past. Astonishingly, I have to admit that I agree with the Commission President or something. Unless, of course, he decides to do a volte face on it.


  1. Bit of a bug in the great project's plan there. Free movement of capital and all that.
    Perhaps they are planning to tax it centrally when they can slip that one through hidden inside a new regulation.
    Thieving bastards!

  2. ah yes, our supreme leader, Kim Jong Juncker