14 Dec 2018
A network of favorable tax treaties and an industry devoted to minimizing tax bills has made the Netherlands the conduit for an annual flow of capital five times the size of its own economy, new research showed on Thursday.
Statistics Netherlands published the data for the first time — based in part on information from the Dutch central bank — showing that the country had received 4.6 trillion euros ($5.2 trillion) in “foreign direct investment” in 2017.
But only a fifth of that money actually stayed in the $836 billion Dutch economy, as the equivalent of $4.2 trillion was channeled away immediately through mailbox companies, corporate shell companies known as special purpose vehicles.
– By Bart Meijer, Reuters, 13 Decmber 2018.
Link to Reuters.
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