Luxembourg leaks

Okay kiddo, you know how when you get some money you put it in your piggy bank to save it? Well, some very rich grown-ups do something similar, but instead of a piggy bank, they have special accounts called "offshore accounts" in some countries where the taxes are very low or even non-existent.

Now, using offshore accounts is not illegal, but sometimes, some grown-ups use them to hide their money and avoid paying big taxes. That's where the Luxembourg leaks come in.

A long time ago, some people found out that a big company in Luxembourg called "PwC" was helping some very rich grown-ups move their money around to these offshore accounts so they could avoid paying taxes in their own countries. This is called "tax evasion," and it's not allowed.

So, some reporters got their hands on lots of secret documents that showed how PwC helped these rich grown-ups hide their money, and they started writing stories about it. This was the Luxembourg leaks – a big scandal that showed how some people cheat on their taxes by hiding their money in secret offshore accounts with the help of big companies like PwC.

This made a lot of people angry because everyone needs to pay taxes to help the government run the country and provide things like schools, hospitals, roads, and other important stuff. So, after the Luxembourg leaks, some countries started investigating these tax evasion schemes and making new laws to try to stop people from cheating on their taxes.

In summary, the Luxembourg leaks scandal was about how some grown-ups use offshore accounts to hide their money and avoid paying taxes, and how big companies like PwC help them do it. This is not allowed and makes people angry because everyone needs to pay taxes to help the country.