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Home » Money laundering and tax evasion risks in free ports.

Money laundering and tax evasion risks in free ports.

This study provides an insight into the money laundering, tax evasion and tax avoidance risks connected with free zones, particularly those that function as (semi-) permanent storage for high value goods, often referred to as ‘free ports’. Conducted at the request of the European Parliament’s Special Committee on Financial Crimes, Tax Evasion and Tax Avoidance (TAX3) the study follows up on concerns about free zones expressed in recent resolutions by the European Parliament. The study is based on an analysis of relevant legislation, academic literature, annual and special reports by authorities, think-tanks and operators in the art business, articles in the media, interviews with experts at European level and at the OECD and a case study of the legal and supervisory framework at ‘Le Freeport’ in Luxembourg.

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