"CumEx Files" : tax evasion at $ 55 d'euro

billions Of euros of income tax on the dividends that escape each year to taxes. 55 billion, divided between a dozen european countries, far more than the initi

billions Of euros of income tax on the dividends that escape each year to taxes. 55 billion, divided between a dozen european countries, far more than the initial assessments. In France, according to The World, this would represent a potential cost of $ 3 billion per year.

so far circulated only estimates of the amounts extracted in the tax department of German, ranging from about 30 billion euros, according to press reports at $ 5.3 billion, according to the German ministry of Finance. But the investigations of 19 european media, including The World, conclude that the "cum ex" has cost 55,2 billion euros to 11 States, namely Germany, France, Spain, Italy, the netherlands, Denmark, Belgium, Austria, Finland, Norway, and Switzerland.

This mounting contested attributed to a German lawyer of renown, Hanno Berger, is to buy and sell shares around the day of payment of the dividend, so quickly that the tax administration does not identify the true owner. The manipulation, which requires the agreement of a number of investors, allows you to claim several times to the refund of the same tax on the dividend, affecting the fisc.

17 billion in France

The case broke out in 2012 in Germany, resulting in the opening of six criminal investigations, and the forthcoming a first trial, in Wiesbaden, in the West, aimed Hanno Berger and several traders in the Stock market. On faith " information from the tax authorities and analysis of market data ", the joint investigation of the 19 media details now the injury assumed by countries.

For Germany, the survey reproduces the upper range of estimates, $ 31.8 million euros obtained from the tax office, according to the calculations is already known to Christoph Spengel, a specialist in taxation at the university of Mannheim. The scam would also have cost "at least 17 billion euros" in France, 4.5 billion to Italy, $ 1.7 billion in Denmark and $ 201 million euros in the Belgium.

Updated Date: 20 October 2018, 07:00

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