German Tax Authorities Probing $5 Billion of Losses Over Cum-Ex

Oct. 28, 2020, 12:22 PM

German tax authorities have been reviewing 391 open Cum-Ex cases totaling potentially illegal payouts of 4.3 billion euros ($5 billion) in 2019, the government told lawmakers in a report.

The numbers reflect the status as of November 2019, the last time the federal government collected data on the situation, according to the document that was disclosed by the German parliament on Wednesday. The document only refers to open tax cases and doesn’t reflect any criminal investigations and money that can subsequently be seized by criminal courts.

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