Luxembourg hits back on secret tax deals revelation

Luxembourg has fought back after a report revealed details of hundreds of secret tax deals with multinational companies as Germany’s finance minister said the nation has work to do on complying with global standards.

Luxembourg’s government called an emergency press conference with Prime Minister Xavier Bettel and Pierre Gramegna, the finance minister, after the disclosure of tax rulings bestowing low-tax status.

“These rulings, as they have been done in Luxembourg, are in line with international and national rules,” Bettel said. Gramegna said the procedure “is not something that’s particular to Luxembourg. It exists in a lot of countries”.