‘Tobacco manufacturers send billions through the Netherlands’

‘Tobacco manufacturers send billions through the Netherlands’
‘Tobacco manufacturers send billions through the Netherlands’

The four largest tobacco companies in the world send billions through the Netherlands every year to avoid tax. That is the conclusion of journalist collective The Investigative Desk, about which NRC writes.

The companies concerned are British American Tobacco, Philip Morris, Japan Tobacco and Imperial Brands. The journalists looked at financial transactions in the period 2010-2019.

The tobacco manufacturers would use Dutch letterbox companies as a transit port for part of their foreign income. According to the investigative journalists, this involves at least 7.5 billion euros in dividends, interest and royalties.

The tobacco manufacturers do not want to respond to NRC substantively to questions about their financial policy. In a response, they say that they comply with the laws and regulations in each country.

In the Netherlands, a lawsuit is pending against British American Tobacco, for allegedly diverting 4 billion euros in interest through the Netherlands without paying tax on it. The tax authorities are demanding 1.2 billion euros from the tobacco giant.

Last year, the European Parliament approved a resolution with the message that the Netherlands is a tax haven. State Secretary Snel denied that at the time.

These were the details of the news ‘Tobacco manufacturers send billions through the Netherlands’ for this day. We hope that we have succeeded by giving you the full details and information. To follow all our news, you can subscribe to the alerts system or to one of our different systems to provide you with all that is new.

It is also worth noting that the original news has been published and is available at news1.news and the editorial team at AlKhaleej Today has confirmed it and it has been modified, and it may have been completely transferred or quoted from it and you can read and follow this news from its main source.

PREV QatarEnergy to further boost LNG production from North Field 
NEXT US Fed holds key rate steady for fourth straight meeting