Luxembourg tax deals weigh on Juncker

Series Title
Series Details 06.11.14
Publication Date 06/11/2014
Content Type

According to an investigation by International Consortium of Investigative Journalists (ICIJ) in November 2014, more than 300 companies secured secret deals from Luxembourg to decrease their tax bills.

The investigative journalists concluded that the companies appear to have channeled hundreds of billions of dollars through Luxembourg and saved billions of dollars in taxes.

Margarethe Vestager, Commissioner for Competition, made a statement on tax state aid investigations in Brussels, 6 November 2014. Two on-going investigations were mentioned: concerning corporate taxation of Amazon and Fiat Finance & Trade (FFT).

The statement was made on the same day as the investigation from the ICIJ consortium concluded that Luxembourg had hundreds of secret tax deals with international companies.

The linkage between Jean-Claude Juncker, the new European Commission President, and Luxembourg, for which Mr Juncker had been Prime Minister during the times of the alleged tax avoidance, threatened to make the issue a major political matter.

Euro|Topics wrote on the 7 November 2014: International media revealed on the 6 November 2014 that Luxembourg's government has helped hundreds of companies to avoid taxes. Commentators call for a common European policy in the fight against tax evasion and the resignation of European Commission President and former prime minister of Luxembourg Jean-Claude Juncker.

News reports on the 7 November 2014 suggested that various Political Groups within the European Parliament were calling for Mr Juncker to speak to MEPs the following week on the situation.

Source Link http://www.euractiv.com/sections/competition/luxembourg-tax-deals-weigh-juncker-309805
Related Link(s)
EUObserver, 06.11.14: Juncker in spotlight after Luxembourg tax revelations http://euobserver.com/news/126404
Euronews, 06.11.14: Luxembourg leaks: nation under spotlight over tax avoidance claims http://www.euronews.com/2014/11/06/luxembourg-leaks-nation-under-spotlight-over-tax-avoidance-claims/
France24, 06.11.14: Luxembourg ‘abetted’ companies in avoiding taxes http://www.france24.com/en/20141106-luxembourg-companies-tax-avoidance-report-pepsi-aig-deutsche-bank/
Deutsche Welle, 06.11.14: Tax deals with Luxembourg save companies billions, says report http://dw.de/p/1Di9k
ICIJ, 05.11.14: Leaked Documents Expose Global Companies’ Secret Tax Deals in Luxembourg http://www.icij.org/project/luxembourg-leaks/leaked-documents-expose-global-companies-secret-tax-deals-luxembourg
The Guardian, 06.11.14: Luxembourg tax files: the Australian companies engaged in tax avoidance http://www.theguardian.com/business/2014/nov/06/luxembourg-tax-files-the-australian-companies-engaged-in-tax-avoidance
The New York Times, 05.11.14: Hundreds of Companies Seen Cutting Tax Bills by Sending Money Through Luxembourg http://www.nytimes.com/2014/11/06/business/international/hundreds-of-companies-seen-cutting-tax-bills-by-sending-money-through-luxembourg.html
The Guardian, 05.11.14: Luxembourg tax files: how tiny state rubber-stamped tax avoidance on an industrial scale http://www.theguardian.com/business/2014/nov/05/-sp-luxembourg-tax-files-tax-avoidance-industrial-scale
The Local.it, 06.11.14: Italian firms struck secret Luxembourg tax deal http://www.thelocal.it/20141106/major-italian-firms-cut-secret-luxembourg-tax-deal
ESO: Background information: Statement by European Commissioner for Competition Margarethe Vestager on tax state aid investigations http://www.europeansources.info/record/statement-by-european-commissioner-for-competition-margarethe-vestager-on-tax-state-aid-investigations/
EurActiv, 07.11.14: Verhofstadt calls on Junker to come clean http://www.euractiv.com/sections/eu-elections-2014/verhofstadt-calls-junker-come-clean-309852
EUObserver, 06.11.14: Dutch tax regime similar to Luxembourg's, auditors find http://euobserver.com/news/126413
The Netherlands: Court of Audit: Tax Avoidance [Report, November 2014] http://www.courtofaudit.nl/english/Publications/Audits/Introductions/2014/11/Tax_Avoidance
Deutsche Welle [Opinion], 06.11.14: 'Luxembourg leaks' revelations, a problem for Juncker http://dw.de/p/1Diby
Euronews, 06.11.14: Luxembourg’s attractive company tax leaks tempt scandal http://www.euronews.com/2014/11/06/luxembourg-s-attractive-company-tax-leaks-tempt-scandal/
The Guardian, 06.11.14: Luxembourg and Juncker under pressure over tax deals http://www.theguardian.com/business/2014/nov/06/luxembourg-jean-claude-juncker-pressure-tax-deals
Euronews, 06.11.14: Luxembourg fights back against tax revelations http://www.euronews.com/2014/11/06/luxembourg-fights-back-against-tax-revelations/
The New York Times, 06.11.14: Jean-Claude Juncker, Top E.U. Official, Faces Rising Furor Over Luxembourg Tax Revelations http://www.nytimes.com/2014/11/07/world/europe/head-of-european-commission-under-pressure-over-luxembourg-tax-revelations.html
Euro|Topics: Main Focus, 07.11.14: Luxembourg saved companies billions in taxes http://www.eurotopics.net/en/home/presseschau/archiv/archiv_dossier/DOSSIER153312-Luxembourg-saved-companies-billions-in-taxes
ESO: Background information: Juncker: I will always respond to unfair criticism from national EU leaders http://www.europeansources.info/record/juncker-i-will-always-respond-to-unfair-criticism-from-national-eu-leaders/
ESO: Background information: Jean-Claude Juncker’s new European Commission is the most ‘politicised’ in the institution’s history http://www.europeansources.info/record/jean-claude-junckers-new-european-commission-is-the-most-politicised-in-the-institutions-history/
EurActiv, 07.11.14: Juncker resists calls to face MEPs over ‘Luxembourg leaks’ http://www.euractiv.com/sections/eu-elections-2014/juncker-resists-calls-face-meps-over-luxembourg-leaks-309870
The Conversation, 07.11.14: Luxembourg: a tax haven by any other name? http://theconversation.com/luxembourg-a-tax-haven-by-any-other-name-33919
Le Monde, Luxemburger Wort, The Guardian, Gazeta Wyborcza, 06.11.14: Inquiry into ‘the world’s premier corporate tax haven’ (via VOX.europ) http://www.voxeurop.eu/en/content/news-brief/4850076-inquiry-world-s-premier-corporate-tax-haven
Luxemburger Wort, 06.11.14: EU's Juncker drops out of debate on Europe's future http://www.wort.lu/en/politics/tax-allegations-concern-luxembourg-government-eu-s-juncker-drops-out-of-debate-on-europe-s-future-545b851cb9b39887080837ee
EurActiv, 10.11.14: Senior EU aide defends Juncker on Luxembourg tax deals http://www.euractiv.com/sections/eu-priorities-2020/senior-eu-aide-defends-juncker-luxembourg-tax-deals-309904
ICIJ: Projects: Luxembourg Leaks: Global Companies' Secrets Exposed, 10.11.14: Is Your Head Spinning? 5 Tips to Understand the ‘Lux Leaks’ Files http://www.icij.org/project/luxembourg-leaks/your-head-spinning-5-tips-understand-lux-leaks-files
Spiegel Online International, 10.11.14: Mr. Europe? The Ghosts of Juncker's Past Come Back to Haunt Him http://www.spiegel.de/international/germany/juncker-faces-uncertain-future-amid-tax-loophole-investigations-a-1002062.html
Spiegel Online International, 10.11.14: Democratic Deficit: It's Time to Put Juncker on the Hot Seat http://www.spiegel.de/international/europe/editorial-on-tax-problems-of-eu-commission-president-juncker-a-1002075.html

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