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As Juncker Prepares To Exit, Successor Eyes Luxembourg's Status As Tax Haven
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3 Dec 2019 01:46 AM EST

EU commissioners will discuss an IMF report that lists Luxembourg as a world-leading tax haven. It comes just days after the former leader of the Grand Duchy departs the EU executive’s helm. Vice-President Margrethe Vestager and tax commissioner Paolo Gentiloni will on Monday meet IMF researchers. The researchers investigated the impact of tax havens on global tax revenues. Luxembourg is a country of 600,000 people. It hosts as much foreign direct investment as the US. The FDI in the Grand Duchy is worth $4 trillion, a 10th of the global figure. Gentiloni has said he wants to step up the EU fight against tax avoidance.

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