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Bilions of euros that should have gone to national treasuries never did - their absence secured by 'comfort letters' which gave guarantees that the scheme was approved by the tax authorities. (Photo: Fotolia)

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LuxLeaks: An opportunity?

As political honeymoons go, it was short and ended abruptly.

Just one week into his job as European Commission president, Jean-Claude Juncker was broadsided by a series of newspaper articles outlining the depth and breadth of corporate tax avoidance schemes in Luxembourg. Schemes thought up and enacted while he was running the country.

Known as LuxLeaks, and published in early November, they detailed how hundreds of multinationals were able to pay little or no tax in the countrie...

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Bilions of euros that should have gone to national treasuries never did - their absence secured by 'comfort letters' which gave guarantees that the scheme was approved by the tax authorities. (Photo: Fotolia)

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