Banking and Investment Funds: Tax evasion

A survey of German Federal Finance Ministeries by the ‘Süddeutsche Zeitung’ showed that a loophole within the tax system was being severely exploited by German financial institutions until it was modified in 2012. This loophole allowed banks and their business partners to receive several times the value of one capital gains payment. In the Bundesland Hessen investigations discovered up to 30 cases with an estimated value of 979 Million Euros.   ... →