A debate is
raging in the Portuguese media about Portuguese multinational corporations
which transfer their assets to accounts held in the Netherlands.
The debate
was prompted by the decision of the parent company of supermarket chain Pingo
Doce to transfer its shares to the Dutch-registered limited company Francisco
Manuel dos Santos to avoid paying taxes in Portugal.
Portugal is
one of the EU member states worst affected by the financial crisis. The
widespread economic hardship has prompted widespread criticism of corporations
which seek to evade taxed by moving to the Netherlands.
Portuguese
media have already published numerous stories about multi-nationals which
profit from low tax rates in the Netherlands and the favourable effects of
bilateral tax treaties.
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