EU FINAL REPORT ON CUM-EX, CUM-CUM AND WITHHOLDING TAX RECLAIM SCHEMES

On 23 September, the European Securities and Markets Authority published this report, saying that, following alleged large-scale tax fraud schemes known as “Cum/Ex”, the European Parliament requested the ESMA to conduct an inquiry into dividend arbitrage, Cum/Ex and Cum/Cum schemes.  In July 2019, ESMA published a Report on preliminary findings on multiple withholding tax reclaim schemes.  This latest Report presents the results of the findings of a formal inquiry and provides an updated analysis of the subject.

https://www.esma.europa.eu/sites/default/files/library/esma70-155-10272_final_report_on_cum_ex_and_other_multiple_withholding_tax_reclaim_schemes.pdf

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Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section View all posts by raytodd2017