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> They need to be a bit careful, because they risk causing much tighter tax regulation in EU. Don't think they've got much to worry about as long as Juncker's
by tragic 11y ago
> They need to be a bit careful, because they risk causing much tighter tax regulation in EU.
Don't think they've got much to worry about as long as Juncker's in charge of the commission at least. There will be huffing and puffing, but no blowing the house down.
- exDM69 11y agoSome background: Jean-Claude Juncker, the current President of the European Commission has served as the prime minister and financial minister of Luxembourg. During his regime, they effectively turned Luxembourg into a tax haven for international corporations, allowing them to transfer "license fees" of trademarks, copyrights and other immaterial rights with effectively a flat fee (ie. no taxes paid, just a one time not-a-bribe fee paid to the tax authorities of Luxembourg). The primary export product of Luxembourg is banking and financial services. They also have some steel production and industry, but effectively without their shenanigans on tax evasion, the country would be bankrupt. A lot of this has recently come into daylight in the LuxLeaks [0] scandal. [0] https://en.wikipedia.org/wiki/Luxembourg_Leaks https://en.wikipedia.org/wiki/Luxembourg_Leaks