German investigators, prosecutors and police yesterday searched the homes and
offices of hundreds of wealthy people in the financial centres of Frankfurt,
Munich, Stuttgart, Hamburg and Ulm after revelations the German government had
lost €3.4bn (£2.5bn) in tax evasion.
The country’s millionaires and executives are suspected of being involved in
transferring vast sums to a bank and foundations in Liechtenstein, the tax haven
between Switzerland and Austria, The Times reports.
So far, only Klaus Zumwinkel, the former chief executive of
Post, who is facing criminal charges, has been named. He reportedly has
confessed to using the Liechtenstein scheme to evade paying more than €1m in
Investigators, who expect to conduct more than 125 searches by the end of
this week, said more than 1,000 people were suspected of tax evasion and it was
only ‘a question of time’ before more prominent names would be revealed.
Planning for the police operation, a joint effort between the chancellor’s
office and the Finance Ministry, has been under way since 2006.
Germany paid for evasion tax disc
HMRC has won its tenth successive case against tax avoidance schemes promoted by NT Advisors. The Court of Appeal has ruled that NT ... read more
HMRC is continuing to ramp up the number of raids on premises it carries out as part of criminal investigations, searching 761 properties in the last year
Five million taxpayers are ow using digital personal tax accounts (PTA) as part of the making tax digital strategy, HMRC said
Since the release of HMRC’s plans for digital tax reforms, many have agreed with the call for a delay