Portuguese angry about Dutch tax haven'

A debate is raging in the Portuguese media about Portuguese multinational corporations which transfer their assets to accounts held in the Netherlands.

The debate was prompted by the decision of the parent company of supermarket chain Pingo Doce to transfer its shares to the Dutch-registered limited company Francisco Manuel dos Santos to avoid paying taxes in Portugal.

Portugal is one of the EU member states worst affected by the financial crisis. The widespread economic hardship has prompted widespread criticism of corporations which seek to evade taxed by moving to the Netherlands.

Portuguese media have already published numerous stories about multi-nationals which profit from low tax rates in the Netherlands and the favourable effects of bilateral tax treaties.

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Portuguese angry about Dutch tax haven’