Leaked Docs Expose Luxembourg Tax Schemes

    Jan 05, 2015

    According to a recent article, leaked documents show that Pepsi, IKEA, FedEx, and 340 other international companies secured secret tax deals from Luxembourg, allowing many of them to slash their global tax bills while maintaining little presence in that country.

    The review of nearly 28,000 pages of confidential documents by the International Consortium of Investigative Journalists and a team of more than 80 journalists from 26 countries reveals that these companies saved billions of tax dollars by channeling hundreds of billions of dollars through Luxembourg. The article, which says the deals are legal in Luxembourg but could be subject to legal review by tax officials in other countries, goes into further detail about the findings and possible repercussions.


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