02 December 2014

Offshore Investment (December 2014 / January 2015): “LuxLeaks” and the “Road to Serfdom” – but watch out Romania!

Some readers of this Journal may have inadvertently overlooked the following piece of news: A group of unscrupulous journalists abusively published a set of stolen confidential documents containing correspondence between the revenue authorities of a sovereign state and some of its taxpayers such unauthorised publication was accompanied by defamatory statements about the administration and the companies concerned. Most likely, a number of readers have come across a slightly different representation of the same facts: the International Consortium of Investigative Journalists successfully unveiled the “sweetheart tax deals” granted by the Luxembourg tax authorities to several multinational companies, allowing them to unduly reduce their overall global tax bill

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