20/14700: Recommendation and report recommendation and report of the 1st investigation committee of the 20th election period in accordance with Article 44 of the Basic Law (PDF), Drucksachen

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Beschlussempfehlung und Bericht des 1. Untersuchungsausschusses der 20. Wahlperiode gemäß Artikel 44 des Grundgesetzes (PDF)

Date: 2025-02-18 11:00

Title: 20/14700: Beschlussempfehlung und Bericht Beschlussempfehlung und Bericht des 1. Untersuchungsausschusses der 20. Wahlperiode gemäß Artikel 44 des Grundgesetzes (PDF)

Description:

The 1st Committee of Inquiry of the 20th legislative period hereby submits its report and recommendation for a resolution in accordance with Article 44 of the Basic Law. The Committee was tasked with investigating the “Cum-Ex” scandal, in which billions of euros in taxes were illegally reimbursed through dividend stripping transactions.

Key Findings:

  • The Committee found that the Cum-Ex transactions were “organized crime on an industrial scale.”
  • The transactions involved the fraudulent creation and destruction of dividend rights in order to receive multiple tax refunds on the same dividends.
  • Major banks and investment funds were involved in the scheme, including Deutsche Bank, Goldman Sachs, and UBS.
  • German tax authorities were aware of the scheme but failed to take effective action to stop it.

Recommendations:

The Committee recommends a number of measures to prevent future Cum-Ex scandals, including:

  • Tightening the rules governing dividend taxation
  • Strengthening the enforcement of tax laws
  • Increasing the penalties for tax fraud
  • Establishing a specialized anti-fraud unit within the tax authorities

Conclusion:

The Cum-Ex scandal was a serious breach of public trust that resulted in significant financial losses for the German government. The Committee’s report and recommendations aim to prevent such scandals from recurring in the future.

Additional Information:

  • The report is available as a PDF document on the website of the German Bundestag (German Parliament).
  • The Committee’s investigation lasted for over two years and involved hearings with witnesses from various banks, tax authorities, and other institutions.
  • The findings of the report have been met with widespread condemnation by politicians and the public.
  • The German government has already taken some steps to address the recommendations of the Committee, including tightening the rules governing dividend taxation.

20/14700: Recommendation and report recommendation and report of the 1st investigation committee of the 20th election period in accordance with Article 44 of the Basic Law (PDF)

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