For all these reasons, and because of the commercial activities carried on by the groups to which exempt 1929 holding companies belong, the effect on trade and the distortion of competition are also present at the level of those groups.
Ceci constitue un élément de nature à établir que les multinationales financières utilisent les structures de holdings au Luxembourg, dont les holdings 1929 exonérées, afin de minimiser leur charge d'imposition.