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By Nicolas Mackel, CEO of Luxembourg for Finance
Recent media reports have suggested that a number of corporations may have chosen to settle in Luxembourg mainly to benefit from alleged “secret tax deals”. Why would multinationals choose Luxembourg, if not for tax favors?
As appealing as this story may be, it is misleading. In fact, the practice of granting tax rulings to corporations that request them is not limited to Luxembourg but is used in 22 out of 28 EU member States. Over more than half a century, Luxembourg has developed an international financial centre that is globally recognised for its high level of expertise. This financial center is serviced by a comprehensive and mature ecosystem. While many other countries have a more...
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