InvestigationFrance is the first victim of this dividend fraud, which in financial terms is called “gum gum”. In twenty years, at least 33 billion euros in tax revenue has been spent. After years of inactivity, tax authorities and the courts are seizing the issue.
This is the story of an exceptional robbery. We are reassessing the value of the stolen loot, and we suspect that robbers continue to use it safely. The story is that the dividend arbitrator is a large company that plunders the financial resources of states around the world based on complex financial transactions that are carried out in the financial markets and have long been off the radar of governments. The cost of this plunder to at least a dozen countries, including France, Germany and Belgium, has been at least 140 140 billion over the past twenty years.
This is the result of a new survey by an unprecedented cost committee. ” Comx files », A federation of sixteen international media outlets led by a German site CorrectionIt exposed this global corruption in 2018.
In collaboration with the Christophe Spengel Group of the University of Mannheim (Germany), The world And its partners resulted A new rating Tax losses to states caused by traders making these sophisticated arrangements to avoid taxes. This figure of 140 billion euros to cover the event’s lack of official action is almost three times higher than the 55 billion estimate established in 2018 because the team was able to document the existence of these practices over a broad period (2000-2020) and a broad geographical spectrum.
France, first killed
The importance of its financial markets made France the first victim of this financial plunder. Thus, in twenty years, it has lost at least 33 billion euros in tax revenue because this dividend arbitration is practically called “gum gum”. This is the equivalent Major Investment Plan France 2030 Announced Tuesday, October 12, by Emmanuel Macron.
If the financial tools used are complex, the principle of fraud is simple. All foreign owners of shares of French groups listed on the stock exchange must escape the tax on dividends payable to France – small German depositors and large US investment funds. To do this, they must remove their shares in a timely manner. A French bank agrees to play the straw man by “carrying” their shares for a few days, at the exact moment when the tax is due – by taking a commission on the process. As a result, no one pays dividend tax: the French bank does not present itself as an intermediary, or the real foreign owner, who is unidentified.
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