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Luxembourg leaks (sometimes shortened to lux leaks or luxleaks) is the name of a financial scandal revealed in november 2014 by a journalistic investigation conducted by the international consortium of investigative journalists. These companies appear to have channeled hundreds of billions. An icij investigation luxembourg leaks global companies' secrets exposed new files obtained by icij disclose secret tax structures sought by “big 4” accounting giants for global brand name companies.
The background during the early 1990s luxembourg attracted a number of multinational corporations Pepsi, ikea, fedex and 340 other international companies have secured secret deals from luxembourg, allowing many of them to slash their global tax bills while maintaining little presence in the tiny european duchy, leaked documents show It did so by implementing an eu directive that allowed firms to establish european headquarters and pay taxes there rather than in countries where their subsidiaries operated
Luxembourg leaks (sometimes shortened to lux leaks or luxleaks) is the name of a financial scandal revealed in november 2014 by a journalistic investigation conducted by the international consortium of investigative journalists
It is based on confidential information about luxembourg's tax rulings set up by pricewaterhousecoopers from 2002 to 2010 to the benefits of its clients Halet was prosecuted and convicted of breaching corporate secrecy.
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