Dutch banks and tax avoidance

The report provides the results of a case study on the possible involvement in international tax avoidance by the major Dutch banking groups. The aim of this case study, which Profundo is undertaking for the Eerlijke Bankwijzer (Fair Bank Guide), is to find out whether or not any of the major Dutch banking groups are involved in international tax avoidance  practices. The premise of this case study is that companies should pay taxes in the countries where their economic activities take place and iIndividuals with large financial wealth should also pay their fair share of taxes.

The report is organised as follows:

• Chapter 1 explains the different mechanisms for international tax avoidance and evasion, the problems created by them, the different forms in which banks can be involved and the various policy initiatives taken at different levels to combat international tax avoidance and evasion.
• Chapter 2 presents the methodology of this case study, discussing the objective and the different research approaches.
• The subsequent chapters discuss the Dutch banking groups, analysing their recent tax payments, their subsidiaries located in tax havens and services they have provided to special purpose vehicles. If relevant this information is complemented by the comments of the banking group. The results are presented in the following order: Chapter 3 discusses ABN AMRO, Chapter 4 discusses Aegon, Chapter 5 discusses ASN Bank, Chapter 6 discusses Delta Lloyd, Chapter 7 discusses ING, Chapter 8 discusses NIBC, Chapter 9 discusses Rabobank, Chapter 10 discusses SNS Reaal, Chapter 11 discusses Triodos and Chapter 12 discusses Van Lanschot.