| inbluevt | Date: Thursday, 2013/05/23, 12:25 PM | Message # 1 | DMCA |
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It's hardly surprising Luxembourg's motto is "We want to stay what we are."Citizens of the Grand Duchy of Luxembourg are the world’s richest by some counts. The World Bank puts their output per head at $107,000, compared to just $50,000 for Americans.
However, that may not stay true for long.European leaders are calling for a crackdown against tax evasion as Apple, Google and other giant multinationals are being called on the
carpet for devising complex tax structures that enable them to pay negligible amounts on profits worth billions by stashing them in places with lax regulations.
Among them, the Rhode Island-sized country wedged between Germany, France and Belgium is accused by its neighbors of offering a haven for tax evaders in the heart of Europe.
Luxembourg's oversized banking sector was a prime target at a special European Union summit in Brussels on Wednesday aimed at clamping down on tax dodges estimated to cost the bloc's crisis-racked economies $1.3 trillion a year.
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Message edited by inbluevt - Thursday, 2013/05/23, 12:26 PM |
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