Germany's Schäuble backs Juncker over tax deals

German finance minister Wolfgang Schäuble has defended new European Commission president Jean-Claude Juncker who is facing criticism for his role in helping multinational companies avoid tax in Luxembourg.

Juncker, who was prime minister of Luxembourg for nearly two decades and also served as finance mnister for 14 of those years, has taken political responsibility for what happened following reports the state granted deals to some 340 companies allowing them to avoid tax.

“The practice is annoying but to make personal accusations out of it...there was no breach of any legal rules. The same thing was done in other countries,” Dr Schäuble told Germany’s rbb Inforadio.

Schäuble has pressed the EU to look at improving the exchange of information on such tax rules and Juncker has said the 28-nation bloc needs a law on a corporate tax base.

Reuters