tax dodge for the big ones

 Fri, 12 Jan 2018 02:31:41 +0100 
An interesting example about how much outrage and imbalance can be created about small misconduct or money which is spent for help and on the other hand when financial industries steal 5,3 billion Euros from tax refund they did never pay and it feels like there is nearly no interest.

#^German bank tax switches cost state billions | Business| Economy and finance news from a German perspective | DW | 11.01.2018

Ordinary taxpayers on the streets of Berlin and elsewhere may be confused if you ask them about the “cum-ex” share switch scandal. However, this shady tax avoidance practice has cost them and the treasury a lot of money.

Several German banks, exploiting a now-closed loophole relating to the excessive claiming of tax rebates, may have cost the German state up to €2.9 billion ($3.46 billion) in unpaid taxes, according to reports on Thursday.

Citing sources in the German Ministry of Finance — which has been examining the mass fraud for the past few years — regional public broadcasters NDR and WDR and the Süddeutsche Zeitung newspaper reported that the total amount defrauded over many years was €5.3 billion.