When it comes to taxation measures, Minister Tanson underlined that Luxembourg is adhering to all directives from the European Union, as well as the regulations from the Organisation for Economic Co-operation and Development (OECD). Over the past few years, a paradigm shift has taken place in the country's financial sector, which has increased transparency.
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Minister Tanson also reiterated the position that the recent publication of the OpenLux article is proof for the sector's transparency. Naturally, the system still has flaws, she acknowledged, and explained that it was impossible to monitor and identify every instance of criminal behaviour in time. Nevertheless, a task force has already been assigned to the case.
The main allegation against the Grand Duchy is that such a small country is not capable of monitoring the high rate of financial transactions performed on its territory. Minister Tanson believes that this point should be taken as an incentive to increase efforts in the domain of financial supervision, to which all actors need to commit.
