The German government bought tax data from “millions” of people with assets in Dubai. He is committed to benefiting other countries.
This is a new case Hervé Falciani, named after this whistleblower, former employee of HSBC, at the origin of a vast tax evasion scandal in Switzerland, who had notably delivered banking data to the French tax authorities. After the ” SwissLeaks ” and the “Panama Papers“, Would Germany be at the origin of”Dubai Papers“? The German government bought tax data from an anonymous source of “millions”Of people holding assets in Dubai that he intends to analyze to find fraudsters, he announced Wednesday. Berlin has “acquired data” in “February“To a”anonymous informant», Specifies a press release from the Ministry of Finance, confirming information published earlier this week by the weekly Der Spiegel.
Those data “contain information on millions of taxpayers around the world and several thousand Germans with assets in Dubai“, he added. “We use all the means at our disposal to detect tax offenses“, Justified the Minister of Finance, Olaf Scholz. Dubai, like the whole of the United Arab Emirates, is particularly popular with global fortunes because of its very low taxes on wealth and businesses. It does not apply any corporate or income tax.
The German tax authorities have undertaken to transmit data relating to foreign taxpayers to the states concerned. A process that is underway, confirms this Saturday atFigarothe General Directorate of Public Finances: “Contacts have already taken place between the tax administrations of the two countries and the German administration has expressed its willingness to transmit the information it holds on French tax residents.“
Checks planned on income tax returns and the “exit tax”
This exchange of valuable information between Germany and France is notably enabled by the Automatic Information Exchange initiative, set up almost four years ago. The countries involved have pledged to deliver their bank details to fight tax fraud around the world. 100 signatory countries are identified, including the United Arab Emirates, including Dubai.
The crusade launched by states after the 2008 crisis against tax evasion took on new importance with the Covid pandemic, which required hundreds of billions in public spending to deal with the crisis. The G7 countries have just concluded an agreement to set a corporate tax rate of at least 15% worldwide, and thus to limit tax competition between countries. In July, it should be validated at the G20 level.
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