US News: Britons charged over €440m dividend tax loophole - PressFrom - United Kingdom
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US NewsBritons charged over €440m dividend tax loophole

02:20  18 june  2019
02:20  18 june  2019 Source:   news.sky.com

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Scottish Landfill Tax . Air Departure Tax . Registered businesses must pay over to HMRC the VAT they have charged on their goods or service (known as output tax ) but they may offset this with the VAT they have incurred on goods or services they have purchased that relates to their own onward

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Britons charged over €440m dividend tax loophole © Reuters Fraudulent 'cum-ex' rebates reportedly totalled billions of euros Two British citizens have been charged in Germany over tax evasion worth €440m (£390m) in a case linked to the reimbursement of taxes on share dividends.

The two, who have not been named, worked at a "large financial institution" and then for an asset management group, according to a court in Bonn.

They are accused of taking part in 34 instances of potential tax evasion between 2006 and 2011.

Their case is among a series of investigations into so-called "cum-ex" trades.

These centre on share trades carried out before and after the date on which holders of those shares were entitled to be paid a dividend.

Those dividends would be subject to tax, with certain investors entitled to a rebate.

Investigators suspect that banks exploited a loophole - since closed - allowing two parties to claim ownership of shares at the same time.

That made it possible to trick the government into reimbursing taxes that were never paid in the first place - reportedly totalling billions of euros.

Man charged after breaking into Dublin house and standing over sleeping family with hammer in Rush.
Man charged after breaking into Dublin house and standing over sleeping family with hammer in Rush

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