ABBL: Luxembourg banks deny aiding developing nations tax evasion
Submitted by Doug on Saturday, 25 July 2009No Comment
The ABBL (Luxembourgish Bankers Association) have refuted the claims that Luxembourg exploits developing nations. The ABBL were responding to a report published by the Luxembourgish NGO, Cercle de Cooperation which focused on tax evasion. In the report Luxembourg’s banking sector is accused of costing developing nations billions. The ABBL said that the figures in the report have no factual basis.
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