TaxPersonal TaxGermans face offshore tax probe

Germans face offshore tax probe

Wealthy, prominent Germans face a visit from the police over suspected tax evasion

German investigators have uncovered significant data linked to offshore bank
accounts in tax haven Liechtenstein that could see rich and prominent Germans
embroiled in tax evasion scandals.

The probes centres on bank accounts held by Germans at bank LGT Treuhand, an
independent unit of LGT Group, which has been managed by the Princely House of
Liechtenstein for over 70 years.

The news follows police raids on the home and offices of Klaus Zumwinkel, the
chief executive of Deutsche Post AG and a respected businessman in Germany’s
corporate world, on Thursday in a probe into suspected tax evasion, Reuters
reported.

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