Renminbi overtakes the Euro as trade finance currency
Latest Swift statistics from October 2013 show that the Chinese currency renminbi has overtaken the Euro as a trade finance currency. The RMB now ranks second worldwide with a share of [...]
Finance
Pierre Gramegna calls for coordinated efforts in international tax matters
Minister of Finance Pierre Gramegna called for a coordinated effort by the international community to deal with tax matters. Speaking at the 4th annual LFF seminar in Milan, Gramegna also highlighted the steps Luxembourg has taken towards greater transparency, and outlined how Luxembourg’s financial centre offers [...]
Luxembourg tax files: how tiny state rubber-stamped tax avoidance on an industrial scale
An unprecedented international investigation into tax deals struck with Luxembourg has uncovered the multi-billion dollar tax secrets of some of the world’s largest multinational [...]
Luxembourg court declares bankruptcy on two Espirito Santo holdings
Oct 10 A Luxembourg court on Friday declared two holding companies of Portugal’s Espirito Santo family [...]
China to Set Yuan Clearing Banks in Luxembourg and Paris
In its continued push to make the yuan a global currency, China’s central bank said Sunday it plans to designate clearing banks for its currency in Paris and Luxembourg, as the two financial centers battle with London to become the leading European offshore yuan-trading [...]
EU commission to probe Amazons tax status in Luxembourg
Investigation centres on local tax ruling secured by Amazon EU Sàrl deemed by critics so generous as to amount to state [...]
Luxembourg to investigate claims McDonald’s avoided $1 billion in tax
Officials say they are examining allegations, made by trade unions, that fast-food giant exploited controversial tax loophole in [...]
Microsoft Taxes Said to Face Scrutiny as EU Quizzes Luxembourg
Microsoft Corp., the world’s biggest software maker, is among companies embroiled in a European Union inquiry into Luxembourg’s tax treatment of multinational firms, according to three people familiar with the EU’s [...]
Luxembourg to Challenge EU Over Fiat Tax Repayment Order
Luxembourg is appealing a European Union decision that it made illegal fiscal deals with a Fiat Chrysler Automobiles NV unit, vowing to show that the bloc’s antitrust regulator failed to establish any illegal state [...]
Why Luxembourg Outranks The U.S. When It Comes To Helping Poor Nations
The United States spends more on international aid than any other nation — more than $32 billion a year. Yet it has come in near the bottom of a newly released ranking that scores the wealthiest nations according to how much they help the world’s poorest [...]