Dutchdelta Finance
| Dutchdelta Finance S.à rl | |
|---|---|
| legal form | S.à rl |
| Seat | Luxembourg , Boulevard Prince Henri 17 |
| management | Paul de Haan and Jack Groesbeek |
| Number of employees | was indicated at times with "0" |
| Branch | Financial services |
The Dutch Delta Finance S.à rl is serving as a finance company subsidiary of E.ON SE, based in Luxembourg , which for tax avoidance has been established. In November 2014, confidential correspondence about the creation of Dutchdelta Finance as a result of the Luxembourg leaks was made public. They can be viewed in a database of the International Consortium of Investigative Journalists (ICIJ) on the Internet. The Süddeutsche Zeitung and the NDR, among others, were involved in the publication and processing of Dutchdelta's financial transactions.
Management and headquarters
E.ON appointed Paul de Haan and Jack Groesbeek as managing directors of Dutchdelta Finance. The businessmen run several companies in Luxembourg and are the owners of Intruma Corporate Services S.à rl Dutchdelta Finance is located on Boulevard Prince Henri 17, where Intruma is also based.
Credit transactions
According to the tax documents that have become known, Dutchdelta and a second company in Malta have granted loans to other E.ON subsidiaries in the USA, Great Britain and Sweden. According to the Süddeutsche Zeitung, individual bookings amount to approximately 2.6 billion dollars, 200 million euros and 14 billion British pounds.
Tax avoidance
If E.ON were to grant these loans from Germany, for example, where the group is headquartered, E.ON would have to tax the interest income at a higher tax rate than in Luxembourg. In Luxembourg (and Malta) the tax rates are marginal. Furthermore, the debt service from the USA, Great Britain and Sweden to Luxembourg is used to reduce tax profits and thus the taxes to be paid.
Self-reliance
Under Luxembourg law, Dutchdelta Finance would have to be an independent company, otherwise the profits would have to be taxed in the country from which the company is administered. The Süddeutsche Zeitung provides some information: According to the balance sheet, Dutchdelta Finance had “0” employees in 2011. An E.ON spokesman told the newspaper that they had at least one employee, and that employees from other E.ON subsidiaries in Luxembourg provided services for Dutchdelta, which is why there were no wages in the balance sheets from 2004 to 2011.
Web links
- Tagesschau, "Luxemburg-Leaks" German corporations and the tax , November 6, 2014
- NDR, Luxembourg Leaks: Die Steuerluxe , video, visit to Luxembourg at Dutchdelta Finance, from minute 24,
- The Guardian, Luxembourg tax files: how tiny state rubber-stamped tax avoidance on an industrial scale . The Guardian has also researched in the environment of Intruma Corporate Services S.à rl , but in connection with the Shire plc group . A video of a visit can also be found in the source.
Individual evidence
- ^ ICIJ, Explore the Documents: Luxembourg Leaks Database
- ↑ a b NDR, How E.ON Tears Tax Holes worth millions , November 6, 2014
- ↑ a b c d Süddeutsche Zeitung, Luxembourg Leaks on Eon Windige Kredite , November 7, 2014
- ↑ Intruma Corporate Services S.à rl , "Our services comprise the set up, management and administration of intermediate Luxembourg holding and finance companies for use by international corporations", accessed on November 11, 2014