How Canadian mining company Eldorado Gold destroys the Greek environment and dodges tax through Dutch mailbox companies

A new SOMO report reveals that Greece’s economic recovery is being undermined by large-scale tax avoidance – enabled by the Netherlands. At the same time, Greece endures harsh austerity measures imposed by the European Commission, European Central Bank and IMF which are supported by the Netherlands.

The report, Fool’s Gold, reveals that Canadian mining company Eldorado Gold uses mailbox companies in the Netherlands to avoid taxes in Greece. This has led to tax losses of at least € 1.7 million for Greece in the past two years. There are also serious environmental and human right concerns related to the company’s operations.

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Fool’s Gold story on SOMO Read

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Annual accounts:

  1. Eldorado Gold Corporation (parent company)
  2. Eldorado Golds Dutch subsidiaries
  3. Eldorado Golds Greek subsidiary Hellas Gold SA

Company presentations

Company responses to allegations

Glory Resources takeover (Sappes and WayLake projects)

Revenue loss calculations

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publication cover - Fool’s Gold (Eldorado Gold)
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