2023-10-01 18:16:18
Ministry of Finance with insight? Many a tax authority has lost it in wild stock trading. Image: (c) Matthias Lüdecke
It is unclear to what extent the stock deals around the dividend record date have damaged the tax authorities. A current letter from the Ministry of Finance now lists at least incorrect refunds or credits.
The damage caused by the large-scale stock transfers around the dividend deadline to the detriment of the German tax authorities is one of the great mysteries of financial policy. According to current findings, it can be assumed that incorrect refunds or credits amounted to 10.3 billion euros. This can be found in a letter from Parliamentary State Secretary for Finance Katja Hessel (FDP) to the Finance Committee of the Bundestag. However, a significant portion of this amount has now been claimed back or not even refunded.
The Ministry of Finance’s list from September 27th of this year is based on a query among the highest tax authorities of the states and the Federal Central Tax Office. This involves two different situations, for which the abbreviations Cum-ex and Cum-cum have become commonplace.
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