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08 January 2016

Germany investigates banks regarding cum/ex trades

German fiscal authorities and departments of public prosecution are currently conducting systematic investigations against domestic and foreign banks on suspicion of tax evasion due to what are known as cum/ex share trades. In the course of these investigations, criminal tax proceedings are currently being commenced and searches are being conducted of the banks concerned, their executive boards and directors as well as of bank employees and investors. Foreign banks which allegedly undertook cum/ex trades have found themselves faced with written requests for information from the Federal Central Tax Office (Bundeszentralamt für Steuern).

A Tax Alert prepared by Ernst & Young Germany, and attached below, provides additional details.

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Document ID: 2016-0049

 

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