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Germany s top court rejects appeal in cum-ex tax evasion case
Xinhua
29 Jul 2021, 14:49 GMT+10
BERLIN, July 28 (Xinhua) The German Federal Court of Justice on Wednesday confirmed an earlier verdict of a regional court in the trial over the so-called cum-ex tax fraud scandal and classified all such trades as illegal tax fraud. The case was the result of traders using a legal loophole to trick governments and receive millions in tax repayments for taxes they had never paid. In March last year, a regional court already declared two people mainly responsible for cum-ex trades and meted out suspended sentences of 12 months and 22 months, respectively.