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Picture: Jean-Jacques Rommes, ABBL, General Manager
The campaign group Tax Justice Network has just published the Financial Secrecy Index, a list of the world’s secrecy jurisdictions, in which Luxembourg ranks second. First of all, the ABBL does not consider Luxembourg to be a “secrecy jurisdiction”.
In both penal and fiscal matters, Luxembourg already cooperates more fully on an international basis than most countries in the world. Indeed, Tax Justice Network’s decision to only review what it considers to be “secrecy jurisdictions” is symptomatic of a report that is prejudiced from the start and works on the principle that the accused is guilty before being tried. While we appreciate that TJN has broadened its list to 60 jurisdictions, and thus including...
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