Monday, November 7, 2016

Tricking BASF in the tax return? –

at least since the “LuxLeaks”revelations, the Problem of tax avoidance is well known. Now a Green of the study revealed the “tax tricks” of the German chemical group BASF. Between 2010 and 2014, the company is said to have saved around 923 million euros.

The chemical group BASF avoids, apparently, in a big way, the payment of taxes. According to a study of the European Greens, the company is said to have saved between 2010 and 2014, an estimated 923 million euros. This was succeeded by a “perfidious System of tax avoidance”, said the financial and economic policy spokesman of the Green group in the European Parliament, Sven Giegold. The case evidence, “even under the new German corporate tax avoidance is widespread”, and existing EU measures were not sufficient to close tax loopholes.

BASF to the allegations: “… not always true”

in Order to avoid the tax, use the BASF “targeted tax benefits in each of the EU countries” – in particular, in Belgium, Malta and the Netherlands. The group stated that he wished to internationally recognised Standards. Taxes are, however, also a “cost factor” and had an impact on business decisions, said BASF. “In the interest of our shareholders,” aim for the group a reduction. Details of the Green report did not comment on the group. Even if this “seems to be very detailed with regard to the claimed structures, it is not always true,” said BASF.

According to the Green-study the business activities in the Netherlands are particularly important for the “tax tricks” at BASF. The income from licenses and patents would be taxed at only five percent. Dividends from intra-group bonds are completely tax-free. The Dutch company’s network were also in the EU, profits generated in low-taxed subsidiaries in Puerto Rico, and Switzerland.

ensure the Loss of taxes in the EU of up to 70 billion Euro.

In the EU on tax avoidance practices by large corporations for years. Trigger the so-called LuxLeaks affair was the end of 2014. At that time, a research network had reported about hundreds of cases in which multi-national corporations in Luxembourg, at the expense of other EU countries of tax payments avoided. In principle illegal, this practice is not.

According to the EU Commission missed the member States through active tax avoidance policies of companies annually in tax revenue in an estimated amount of 50 to 70 billion euros. The EU countries had decided in June, a Directive to make it more difficult for corporations to dominate the postponement of Gain. Thus, the tax avoidance of BASF, would be finished in the Netherlands, gave the Green.


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