Belgian companies sent 62 billion euros to Luxembourg in 2014
Tuesday, 31 May 2016
About 13 000 Belgian companies are using Luxembourg as a tax haven. De Standaard reported on Tuesday (31 May) that the total amount that was deposited in Luxembourg was about 62.6 billion euros according to tax returns.
Luxembourg figures since some years on the blacklist of the Organisation for Economic Co-operation and Development (OECD) because of its lack of bank transparency.
Last year, Belgian companies had to declare for the first time all financial transactions in Luxembourg exceeding 100,000 euros to the tax authorities.
The Belgian tax authorities stated that they are carefully examining the flow of money.