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The Cum-Ex Scandal: Financial Crime and Legal Loopholes

Summary

A resolution addressing the 'cum-ex' dividend arbitrage scandal that cost EU Member States billions in tax revenue, calling for investigations and stronger legal frameworks.
10 29.11.2018
Other
finance
economy
taxation
criminal law
social policy
european union
public administration
administrative reform
business and competition
information technology and data processing

Key points

  • The 'cum-ex' scandal has resulted in massive tax revenue losses for EU Member States, estimated at approximately 55 billion euros.
  • European supervisory authorities are called upon to conduct inquiries into the use of complex financial arrangements for aggressive tax avoidance.
  • The resolution follows specific parliamentary procedures to address the statements made by the Council and the Commission regarding financial crime.
  • There is a call to strengthen existing directives to ensure that dividend arbitrage schemes are mandatorily disclosed to tax authorities.
Documents (PDFs)
JOINT MOTION FOR A RESOLUTION on the cum-ex scandal: financial crime and loopholes in the current legal framework MOTION FOR A RESOLUTION on the cum-ex scandal: financial crime and the loopholes in the current legal framework MOTION FOR A RESOLUTION on the cum-ex scandal: financial crime and loopholes in the current legal framework The Cum Ex Scandal: financial crime and the loopholes in the current legal framework
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