By continuing your visit to this site, you accept the use of cookies. These ensure the smooth running of our services. Learn more.


Games theory with Luxembourg

Yesterday I quoted European Tax Commissioner Laszlo Kovacs who said that the actions of Austria and Luxembourg were hampering progress in cracking down on global tax fraud, an issue he said was “high on the political agenda of the EU.

The question is: what is to be done to achieve the goal of automatic exchange?

I have an idea: the services of clearing house are done in Luxembourg by Clearstream. Clearstream International was formed in January 2000 through the merger of Cedel International and Deutsche Börse Clearing.

I suggest that EU governements encourage their banks to chose another clearing house for the clearing services, in a jurisdiction that play the truth and fair competition game.


Source of the picture: Wikimedia.org
Permission is granted to copy, distribute and/or modify this
document under the terms of the GNU Free Documentation License

05:49 Posted in Luxembourg | Permalink | Comments (0)

The comments are closed.