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German capital-market tax-inspection unit operational by 2020, Scholz says

( December 10, 2019, 09:42 GMT | Official Statement) -- Tax planning on German capital markets will be scrutinized by a dedicated unit with staff and budget as of next year, finance minister Olaf Scholz said in a speech. Scholz also supported changing EU rules to allow financial supervisors to share data with tax authorities, something that was also proposed by EU securities-market watchdogs ESMA in July. The plans follow a scandal known as Cum-Ex, in which multiple tax refunds were claimed on the same share dividend.Statement follows. ...

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