The scams about the so-called cum-X and low tax plans were first broken in 2001, and still it is difficult for this day to calculate the accurate figures about financial losses.
However, the amount should be heavy in view of the horrors of the insane and what has already been exposed by the tax authorities of different countries.
For calculation by the University of Manhem in Germany, between 2000 and 2020, Germany alone lost approximately € 29 billion ($ 34.1 billion) due to low-cum-crazy-the university’s top financial researcher Christofe Spenkel once called I globally, as the top financial researcher Christof Spenkel as “younger brother of cum-X”.
Anne Brorhilkar says that it is striking that it is striking that despite the therians that they publicly continue the fred shake.
Brurhilkar should know as he was once the most prominent senior public prosecutor of Germany who brought several co-e-X cases to court.
Talking to DW, a tax lawyer said that she is still tied to a nonclose agreement with her former employee, the office of the Colon Public Prosecutor, and could not publicly discuss details of the findings of the agency.
But the major whistleblower, which is still working in the finance industry, testified in the court that thesis plans were going on, and not only in Germany.
Now working for non-profit worker group financial use (financial changes), Brohilkar says that Belgian, France, Italy, Austria, Netherlands, Spain and Luxembourg are relevant.
The University of Manhem Professor Christoff Spentele says that less-e-X and low schemes are closed due to a legal flaws, and to understand that Fru lies are possible only when the prosecutors look close to deals that carry out those deals.
Share deal for profit
When the German financial institutions – such as banks or investment funds pay a shareholding that pay dividends, need to pay capital profit tax. However, they can return that tax, voice they already pay corporate taxes.
As foreign financial institutions holding German shares are not entitled to this refund, they have invented a workaround. Foreign institutions temporarily lend to a German financial institution to a German financial institution shortly before the deadline for dividend payment.
In turn, foreign banks charge a security loan fee. The German institution now claims tax refund, then returns shares to a foreign owner, and the result from refund is divided between foreign and domestic banks.
Major legal flaws, Spechel, told DW in an interview, that these securities are not taxed in Germany or many other countries. In countries where the search fee is taxed, women do not tax.
Spkel had already warned about continuing low-shares deals in 2016, but has changed very little.
“A change in law increased the cost of transaction, but the real legal flaws – and thus the ability to mediation – still exists,” said.
Spengel has repeatedly called for a direct legal amendment to close the flaws, and argues that FRAU reviews may try to stop refund claims more well before issuing payment to the government.
Risk free business for banks
At least deals are still not effectively closed, and previous deals are rarely prosecuted, claiming Annie Brorhilkar.
“This is a safe bet for banks, as co-e-X and lower-cum-cums are called Tech Trades,” he said, “Purely from Trom Taughters” with profits made “which” is completely immune for market fluctuations. ,
He said, “The only real risk is being caught. And this risk remains low until the authorities are poorly equipped,” he said, which was in the whole of Europe.
For brorhilker, there is a lack of a problem specialist who is able to stop economic crimes and taxes. “There is an old shortage of employees in the tax audit,” he said, given that prosecution in Germany is even more complicated by rotation exercises of a job under which employees regularly switch departments or responsibilities.
“In areas that require deep expertise that cannot be acquired quickly, it is total replicated,” Broorhilkar said.
Inadequate equipment is another weakness that should “not be underestimated,” especially “the other side is very well equipped.” This will include the data exchange among the authorities, as even “singing emails can be complex” due to the fact that an agency restrictions encryption, while another makes it mandatory.
Video calls between departments, Brohrilkar, said, often impossible because each a separate conference uses the platform.
As the plans do not stop at the boundaries of Germany. International collaboration between tax authorities is “important” for Brurhilkar, but often red tape is slow and disgusting.
“In Europe’s financial centers, there are specific strict privacy rules for lawyers, tax advisors and auditors,” he said, which was the result of “acute lobbying by the financial industry”.
Why co-X was not stopped
The financial industry spends huge to influence politics at the European Union and national states levels. Finanzweende For a non -profit organization, it spends approximately € 40 million annually on lobbying – spends more than the joint budget of auto and chemical industry on pushing its goals.
The German Parliament, Bundestag, has currently registered 442 finance industry lobists, which breaks down for about ten lobists for each of the 42 members of the Finance Committee of Parliament for tax laws, financial market regulation and banking supervision.
Unknowingly, lobists are often successful, which, which, for financial changes,, therefore,, therefore.
A former Finance Minister, Henold, in the Regional German state of Shleswig-Holstein, had experienced a “intense time” in the office from 2012 to 2024-a period of which German prosecutors gradually highlighted the boundary of co–X scandal.
“I noticed how lobists try to impress taxes in his favor and block the rules of strictness. Sadly, he is often heard,” he remembered in an interview with DW.
Recently, financial vended activists have started criticizing the Finance Committee of Parliament, as some of these MPs were found to earn additional income from local savings banks or cooperative banks.
Henold told DW, “Many MPs keep seats on the boards of thesis institutions and receive the amount of fourteen to five-five-five-five-five-five-five to do the sun.”
And while the suspects, and sometimes openly soak the Fraw-cum-less German state Cardon, some brave prosecutors are at least trying to chase the worst offer and recover the lost funds.
Currently, Germany has 253 suspected cases under investigation, including a total of € 7.3 billion.
This article was original in German.
