Dutch Finance Secretary insists Netherlands is Not a Tax Haven

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No image availableNL Times

There have been reports saying that the tax law in the Netherlands is costing hundreds of millions a year in less-developed countries, but Dutch Finance Secretary Frans Weekers denied this information.

Ken Teegardin (flickr)

According to the Institute for Economic Investigation, the policies direct money to tax havens without difficulty through the Netherlands.  Ever year, around €125 billion comes to the Netherlands from firms and businesses registered in the county. However, this does not contribute much to the Dutch economy.

The Centre for the Investigation of Multinational Companies reported that poor countries lose more than €145 million every year. It also said €147 million is taken away each year from Brazil because of the tax practices in the Netherlands.

The Finance Secretary said, "We are in a crisis and we can't permit ourselves to give up this economic advantage."