It is unusual for a national state to avoid tax on investments in third countries through a letterbox construction in the Netherlands. Qatar uses QIA to invest hoarded oil and gas profits in the global economy. The state fund owns, among other things, the Paris Saint-Germain football club and countless prestigious real estate, including the Amstelhotel in Amsterdam.
The amount of 40 million in tax evasion is probably higher in reality. Recent annual reports of Dutch letterbox companies contain too little information to provide a complete picture.