How long does it take to react to an international scandal? For the European Commission, it would seem more than four years… or longer?
It was 2014 when the International Consortium of Investigative Journalists’ (ICIJ’s) Lux Leaks investigation revealed some of the world’s largest corporations had found ways to cycle money through Luxembourg (hence the name) to avoid paying massive amounts of tax.
But even after they revealed more than 300 secret tax deals (watch this video to get the details) it appears the European Commission has not acted. ICIJ’s reporter Simon Bowers takes you through the impact of Lux Leaks on president Jean-Claude Juncker during his tenure.
Almost five years ago, the International Consortium of Investigative Journalists published its Lux Leaks investigation, exposing how some of the world’s largest corporations cycled billions of dollars through Luxembourg so as to avoid paying huge amounts of tax — taxes that otherwise could have ended up in the coffers of other European countries.
In several cases, the deals — known as “tax rulings” — allowed firms to pay less than 1 percent tax in Luxembourg.