The International Consortium of Investigative Journalists has just released a trove of leaked tax documents detailing the deals made between PricewaterhouseCoopers and the Luxembourg Ministry of Finance on behalf of more than 300 companies that allowed them to funnel hundreds of billions of dollars through the duchy virtually tax free.
“A Luxembourg structure is a way of stripping income from whatever country it comes from,” said Harvard Law professor and specialist on international taxation Stephen Shay in the article introducing the database. “[Luxemburg] combines enormous flexibility to set up tax reduction schemes, along with binding tax rulings that are unique. It’s like a magical fairyland.”
Luxemburg tax...
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