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The CumEx-Files is a tax fraud scheme discovered in by a collaboration between a number of European news media outlets. The network stole several billion Euros from the treasury, through what Correctiv calls a "cum-ex" trade:. The participants in the network would lend each other shares in large companies, so that to tax authorities there would appear to be two owners of the shares, when there was only one.

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FunFact Krumkake is a Norwegian waffle cum cookie that is loved across generations. It is usually eaten plain or with a cream filling. Jump to.

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We use cookies to improve our service for you. You can find more information in our data protection declaration. The scale of the financial damage caused by the so-called "cum-ex" tax scandal is much higher than previously thought, according to information provided to Reuters, ARD, Die Zeit and several other news organizations. For the last few years, German authorities have been investigating hundreds of the tax fraud caseswhere banks and stockbrokers rapidly traded shares with "cum" and without "ex" dividend rights, with the aim of being able to conceal the identity of the actual owner and allow both parties to claim tax rebates on capital gains tax that had only been paid once.

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