Portugal is losing millions in taxes as multinationals go Dutch
Nineteen of the 20 biggest Portuguese multinationals are using a letterbox company in the Netherlands to reduce their tax bills in their home country, according to a new report by the centre for multinational research Somo.
Somo estimates Portuguese multinationals shifted at least €2.5bn in profits to the Netherlands between 2009 and 2011.
The institute bases its claims on information from the IMF, the OECD and the Dutch central bank.
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