Dutch supermarket giant Ahold has opened a new financial centre called Ahold Finance Group Suisse in Geneva, in a bid to preserve its current levels of taxation in light of proposed changes to EU fiscal law.
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In a statement released yesterday [Wednesday], Ahold said that it “took this step as an international company with an eye to the insecure fiscal situation within the EU”.
The third-largest supermarket group in the world by sales, Ahold generates around 60% of its turnover in the US.
As a Dutch international firm it currently enjoys tax benefits under a Corporate Financing Activities scheme, but these could be stopped if the European Commission makes changes to the Dutch rules.
Ahold spokeswoman Annemiek Louwers told Reuters that with the Geneva centre, the group would now be able to pay part of its taxes in Switzerland rather than the Netherlands.
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