Brand-name companies' secret Luxembourg tax deals revealed

Landlocked European duchy a “magical fairyland” for global corporations seeking to slash their tax bills

By Leslie Wayne, Kelly Carr, Marina Walker Guevara, Mar Cabra, Michael Hudson

Pepsi, IKEA, FedEx and hundreds of other international companies have secured secret deals from Luxembourg, allowing many of them to slash their global tax bills while maintaining little presence in the tiny Western European duchy, leaked documents show.

These 343 companies appear to have channeled hundreds of billions of dollars through Luxembourg and saved billions of dollars in taxes, according to a review of nearly 28,000 pages of confidential documents conducted by the International Consortium of Investigative Journalists and a team of more than 80 journalists from 26 countries.