Region: Luxembourg

Jail time and fine on cards for "LuxLeaks" duo

11 May 2016

1MDB scandal widens to Luxembourg and Australian banks

04 April 2016

EU court to decide whether US/EU data transfer is invalid on 6 October

The Court of Justice of the European Union (CJEU) will rule on 6 October whether data can be transferred across the Atlantic under the Safe Harbour Agreement between the EU and the US.

30 September 2015

DoJ targets assets across Europe in VimpelCom probe

The DoJ is seeking US$300 million in assets linked to an alleged foreign bribery scheme involving Russian-owned telecommunication companies VimpelCom and Russian Mobile Telesystems, following an investigation by US and European authorities.

01 July 2015

Cologne prosecutors investigating clients at Deutsche Bank's private banking arm

Deutsche Bank's private banking arm, Sal.Oppenheim, is cooperating with prosecutors in Cologne, who are investigating tax evasion allegations against some of the bank's clients, according to reports.

17 June 2015

Commerzbank closes Luxembourg accounts

The Luxembourg subsidiary of German bank Commerzbank is closing 400 customer accounts that are suspected of involvement in tax evasion, German newspaper Sűddeutsche Zeitung reports. Commerzbank will shut the accounts after their owners failed to report themselves to tax authorities, despite the bank repeatedly asking them to do so.

01 April 2015

GIR's tax investigation roundup

German prosecutors are investigating Commerzbank over allegations that it helped clients evade tax through its Luxembourg subsidiary. German newspaper Süddeutsche Zeitung first reported today that prosecutors raided the bank’s Frankfurt offices.

25 February 2015

EU state aid probe findings to be published in spring

The European Commission said it expects to have findings from its four ongoing investigations into claims that member countries offered illegal state aid by spring 2015. In 2014, the commission opened probes into Ireland’s tax arrangements with Apple, the Netherlands’ tax deals with Starbucks, and Luxembourg’s treatment of Fiat and Amazon.

20 January 2015

EU urged to crack down on tax avoidance

Finance ministers from France, Germany and Italy have asked EU Economics Commissioner Pierre Moscovici to rein in “aggressive” tax planning and profit shifting by companies within the EU.

03 December 2014

Leaked documents reveal Luxembourg's secret tax deals

Luxembourg has given Pepsi, IKEA, FedEx and 340 other global companies secret tax deals worth hundreds of billions of dollars, according to the International Consortium of Investigative Journalists (ICIJ), which examined nearly 28,000 pages of leaked documents.

06 November 2014

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