The investigations of the research centre "Correctiv" result, involved in which, among other things, the ARD-magazine "Panorama", the weekly newspaper "time" and "time Online". Affected accordingly, besides Germany, at least ten other European countries.
From a "bounty" by Europe at the expense of the taxpayers. Alone, German tax offices were escaped according to calculations by the tax experts Christoph Spengel, University of Mannheim, between 2001 and 2016, at least 31.8 billion euros. The "Mannheimer Morgen" (Friday), said the scientists, the German government have for years stood by and watched, that he "except as a Christmas goose". The politicians have talked of the damage for years small.
The Federal Ministry of Finance and the Federal Central office for taxes are known so far for Germany 418 the case of complexes with a volume of 5.7 billion euros, said the Parliamentary state Secretary Christine Lambrecht (SPD). The financial Supervisory authority (BaFin) have also the knowledge of currently 72 "Cum-Ex"-suspicious transactions. It would add more still to be tested 19 suspected cases.
loophole in 2012, closed
In the case of the disputed transactions, investors shifted around the dividend record date, shares ("cum") and without ("ex"), the dividend claim between several Parties. This left the papers with each other to circulate until the Treasury no longer clear whom they belonged to. The result of the carousel transactions: certificates of capital income tax and the corresponding solidarity surcharge were several times issued, although they were only paid once. The result is that financial institutions reimbursed more in taxes than they had previously taken.
in 2012, was closed the Tax loophole. The subject also the subject of a Committee of inquiry of the German Federal tags. According to the "Correctiv" to Germany, other European countries also have to wait until 2015 before the Circumvention warned, though it is known that according to the research results since 2002 know. In the research 19 media from 12 countries were involved.
The Federal Finance Ministry said on Thursday in Berlin, you have States in the past several, "on demand, via the procedure in "Cum-Ex"-shops informed". A list with the exact date of the respective Information could not be presented on demand but the Ministry referred to confidentiality as against the EU partners.
Green criticize the Minister of Finance Scholz
was cheated of The Greens called for immediate investigation by the Federal Minister Olaf Scholz (SPD): If to 2012, "then that would be an egregious failure, and a bottomless embarrassment for the German financial policy," said the group Chairman Anton Hofreiter. He expected Scholz, that he declared to the Bundestag and continuously educates.
"Because there is no European financial police and the governments in the case of tax crime not work together, this RAID possible in the first place", criticised the Green politician Gerhard Schick, who had promoted the "Cum-Ex" Committee of inquiry. The rate of return in the shops will achieved solely from tax money.
A spokesman for Scholz stressed that in may 2018, the EU agreed on a Directive for the introduction of an automatic exchange of information about certain cross-border tax planning models. "We are currently advising the countries on the implementation of this Directive into German law."
Hesse has 32 control cases determined
In Germany, were particularly the Hessian authorities against the disputed transactions. The financial management have been identified in the 32 control cases, said Finance Minister Thomas Schäfer (CDU). "In 10 cases, the tests are completed. 770 million Euro, were withdrawn from the state, we were able to record again for the public." Total damage "Cum-Ex" quantified as;-shops in the state of Hesse to around EUR 1.3 billion, due to multiple and, thus, wrongly claimed capital gains tax.
In may, the Frankfurt General Prosecutor’s office had charged the nation’s first prosecution for "Cum-Ex". Prosecutors accuse a from Hesse attorney, as well as five former employees of the Hypovereinsbank serious tax evasion. To the fact up to ten years in prison. It is a sum of well 113 million euros. Handled the Deals, according to the Prosecutor’s office on the company of a now deceased private investors.
The lawyer, who now lives in Switzerland, and earlier in the Hessian financial administration worked, should have developed "the tax evasion on the Basis of "Cum-Ex"-transactions as a business model for private customers and the acquisition of the Investor taken care of". On the admission of prosecution at the regional court of Wiesbaden has not yet been decided.
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