Dutch Conduits and Swiss butchery

A fantastic programme on Radio 4. Tax Avoidance: the Hidden Cost. More shocking revelations on the degree to which companies avoid tax. 77 of the 100 biggest companies in the world have Dutch royalty conduits and about 40bn Euro per month is funneled through the Netherlands, to tax havens, in this way, avoiding tax by reducing profits.

Football oaf and sausage maker Uli Hoeness has been very outspoken on tax evasion. Astonishingly, he’s more of an expert than we thought, and has admitted to a secret Swiss account. Media reports are excessive, according to Hoeness himself. We shall see. Angela Merkel seems to have made up her mind.

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