Crédit Agricole employs 1,200 people in Luxembourg, who carry out banking, asset management and custody activities and are subject to Luxembourg legislation and tax rules.
Some of those activities benefit from a tax ruling that establishes a tax regime specific to them, in accordance with local practice.
In any event, the amounts of tax concerned are not material by comparison with the €4 billion of tax paid by the Crédit Agricole group on average each year, making it one of France's biggest taxpayers.
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