Luxembourg, a tax haven in the heart of Europe

By rbj
Luxembourg plays the role of tax haven for about 55,000 phantom companies created by multinational companies and millionaires around the world, but also by mafia groups, according to an investigation published on Monday by a group of publications, including the French newspaper Le Monde, EFE reports.
Among the names mentioned on Monday by Le Monde, which will publish the ‘OpenLux’ survey in the form of a week-long series, include athletes such as Tiger Woods, artists such as Colombian singer Shakira, American actors Angelina Jolie and Brad Pitt, the Hermes family. the Crown Prince of Saudi Arabia and three-quarters of the companies listed on the CAC-40, the main index of the Paris Stock Exchange.
” Hundreds of multinationals (LVMH, Kering, KFC, Amazon) have opened financial subsidiaries. Wealthy families are making the most of their real estate here, ” Le Monde writes in its digital edition.
At the same time, the OpenLux investigation reveals the existence of funds of dubious origin, which could be related to criminal activities in which the Russian and Calabrian mafias are involved.
Even the far-right Italian party La Liga has an account in Luxembourg targeted by the authorities in Rome, as well as people close to the Venezuelan regime, who allegedly hid funds from public contracts affected by corruption, according to the quoted source.
“These surveys confirm that the Grand Duchy is, despite what the Luxembourg authorities claim, a genuine ‘offshore’ center, something between the City of London and the British Virgin Islands. About 90% of these ‘companies’ are controlled by non- Luxembourgish ”, writes Le Monde. In the Grand Duchy, they are registered from luxury properties to yachts, helicopters, small private jets, commercial aircraft, music catalogs, image rights and works of art. In total, up to 65,000 beneficiaries were identified, including 279 millionaires included in the Forbes magazine ranking.