The Confederation of Finnish industries (EK) has expressed disapproval about a report by Finnwatch, a civic organisation focussed on global corporate responsibility.
The disapproval comes after the report showed that 20 large Finnish companies had a total of 225 subsidiaries in countries classified as tax haven.
EK has argued that the setting of subsidiaries has nothing to do with tax avoidance or minimisation and defended the practice as a normal part of corporate structure.
The report was further criticised by EK for its interpretation of Holland as a tax haven, claiming that the country has created competitive corporate tax system that attracted companies.
