Watch: Tax Problems for President J. C. Junker (E.U. Commission) One Week After Taking Office. He Ran Tax Haven Luxembourg For Years and is Now Supposed To Combat Tax Havens for Europe from Tax News Online Report on RexTube.

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Tax haven Luxembourg: Juncker in a bind – http://dw.de/p/1DiYV

INTERNATIONAL TAXATION EU

Luxembourg tax deals with global firms under fire after news leaks.

Luxembourg is under fire after leaked documents revealed its huge tax avoidance deals with hundreds of top global firms, putting its former premier Jean-Claude Juncker under the spotlight in his first week as EU commission chief.

Household names such as Pepsi, IKEA and Deutsche Bank were among companies named by the US-based International Consortium of Investigative Journalists (ICIJ) following a six-month investigation of 28,000 leaked documents.

Billions of dollars were funnelled through the tiny European duchy of Luxembourg thanks to complex financial structures that allowed companies to slash their tax liabilities, depriving hard-up governments around the world of vital revenue.
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The revelation comes at a particularly awkward moment for Juncker, who took office Saturday as head of the EU’s executive arm after 19 years as Luxembourg prime minister, during which many of the deals were made.

Luxembourg’s current prime minister, Xavier Bettel, insisted Thursday that the sweetheart tax deals were legal. “I want to underline that these (tax) rulings conform to international laws,” Bettel said.

Juncker presided over the tax affairs of Luxembourg for over two decades, guiding the country from being a sleepy European backwater to a prized destination where hundreds of the world’s biggest companies now base their affairs.
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Watch: Why Luxembourg is the best place to invest offshore on RexTube…: http://youtu.be/Zu2TEuCWGh0

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Juncker won’t influence probe

Juncker’s spokesman said the European Commission was already investigating whether Luxembourg’s tax deals with US Internet shopping giant Amazon and the financial arm of Italian carmaker Fiat amounted to illegal state aid.
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“If the decision is negative, Luxembourg will have to take corrective actions,” spokesman Margaritis Schinas explained.

On Wednesday, asked about the tax policies he once led, Juncker told journalists that he “had his ideas” about the matter but would do nothing to affect the EU’s investigation “as this would be indecent”.

In its investigation, the ICIJ found that global accounting giant PricewaterhouseCoopers had helped multinationals in question secure at least 548 tax rulings in Luxembourg between 2002 and 2010.

The documents uncovered details of so-called Advance Tax Agreements — pre-negotiated deals which set out how companies will be taxed.

“It’s like taking your tax plan to the government and getting it blessed ahead of time,” the ICIJ  quoted Connecticut School of Law tax expert Richard Pomp as saying.

The controversial practice, also called “tax rulings”, is the subject of the EU’s probes into Luxembourg’s deals with Amazon and Fiat.

The EU has power over member states tax affairs as such, but it can probe whether they amount to illegal state aid, which breaches the 28-nation bloc’s rules on free trade and competition.
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Similar cases have been opened against Ireland for tax deals with tech giant Apple and the Netherlands with coffee chain Starbucks.

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Watch: European Parliament Calls for a Europe-Wide Tax Haven Crack Down on Tax News Online Report…http://youtu.be/-yyrnYfLvb8
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There are two problems with that objective.

1. The EU Parliament can not introduce bills to be voted on to become law. Only the EU Commission can introduce bills so that the EU Parliament can vote them into law.
2. The new EU Commission President is Jean-Claude Junker who has left being President of tax haven Luxembourg for many years. Good luck with that objective parliamentarians.

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[Editor Observation] It was noted that Martin Schulz was re-elected President of the European Parliament. MEPs re-elected Martin Schulz as President of the European Parliament on Tuesday morning for another two and a half year term.
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But… Martin Schulz is a German member of the communist party, and he had tried to become the president of the E.U. Commission and Junker won the election. It appears that Junker may be pro-business and economic growth. Communist platforms in the past have been anti-business and in favor of the government owning the means of production. Now when the parliamentarians call for and end to the law abiding countries and business owners that are following the law, are they really saying the independent countries should not have any rights against an overbearing EU communust leaning government. And are they really trying to drive businesses out of the EU because it cost too much to pay for wealth distributing and less than productive socialists who are always trying to take and spend someone elses money for what think are better than allowing private property rights. It is possible that Martin Scholz was behind the Luxemburg press leaks as part of a sour grapes smear campaign because Mr. Scholz was not picked for the EU Commision presidency. Of course this hypothsis is speculative, but very plausable indeed.
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Now on with the news.

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EU TAX HAVENS MEET WITH PUBLIC OBJECTION, EVEN IF NOT BREAKING THE LAW on Tax News Online Report_Tube.
Hash Tag=
“#starbucketchallenge”
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: http://youtu.be/xi-UM3qgBJc
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Warch: Observers call EU for fiscal war against tax havens on Tax News Online Report. : http://youtu.be/BXxJiN8bNQA
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