
Double Feature at the Orangerie
Section: Arts
The former chief prosecutor Anne Brorhilker has urged the newly appointed Finance Minister Lars Klingbeil to act swiftly in the fight against large-scale tax fraud. She expressed concerns regarding the lack of progress made by the previous government in addressing financial crime, particularly in relation to schemes like Cum-Cum deals.
Brorhilker emphasized that the new government, particularly Klingbeil, is facing a time crunch. She warned that without immediate action, crucial evidence related to tax evasion could be destroyed, undermining efforts to hold offenders accountable.
In her view, the past four years have seen insufficient action against financial crime. She criticized the Bureaucracy Relief Act introduced by the previous coalition of the SPD, Greens, and FDP, labeling it a severe misstep. This legislation, according to her, reduces the retention period for financial documents from ten years to eight, thereby enabling financial institutions involved in Cum-Cum transactions to dispose of vital evidence that could prevent tax recoveries.
As the changes to the retention period will only take effect in early 2026, Brorhilker highlighted that Klingbeil has a limited window of six months to ramp up investigations before perpetrators can begin destroying evidence. Cum-Cum transactions are a variant of the notorious Cum-Ex schemes, which allowed banks to defraud the state of a significant amount of tax revenue.
Brorhilker, who has extensive experience prosecuting such cases, pointed out that while Cum-Ex deals involved the fraudulent reimbursement of taxes never paid, Cum-Cum transactions provide tax advantages to foreign holders of German stocks.
Despite her criticisms, Brorhilker acknowledged the new coalition's commitment to combating tax evasion and ensuring effective tax enforcement as outlined in their coalition agreement. However, she remains skeptical about the coalition's resolve to follow through on these pledges, suggesting that the effectiveness of their approach will soon become evident.
Section: Arts
Section: Arts
Section: Business
Section: News
Section: Business
Section: Arts
Section: Arts
Section: News
Section: Arts
Section: Arts
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