the.com/coordination centers
tax breaks in a trench coat, pretending to be a headquarters.
means a legal entity multinationals set up in a favorable jurisdiction to centralize treasury, invoicing, or admin functions and shrink their tax bill.
from belgium pioneered the model in 1982 to lure multinational hq functions with generous tax rulings, until the eu ruled it illegal state aid in 2003 and forced a phase-out.
belgium's regimelet firms deduct notional interest on capital
eu crackdownruled unfair state aid in 2003
who used themford, bp, and other multinational giants
modern cousinireland's ip box replaced the old model