US fund KK Law Firm Retirement Plan Trust
Specifically, the case concerned receivables of the US fund KK Law Firm Retirement Plan Trust in the amount of 27 million euros. The plaintiff fund had participated in transactions in which shares were shifted back and forth between several parties with (“cum”) and without (“ex”) distribution claims around the dividend record date. In the end, it was no longer clear to the tax authorities to whom the papers belonged. Tax offices refunded capital gains taxes that had not been paid at all
The transactions that became known under the catchword Cum-Ex are today regarded by many people as a form abuse. In this context, many criminal proceedings are also pending on suspicion of criminal tax evasion.
According to press reports, German public prosecutors are also supposed to investigate the trustee of KK Law, a US lawyer, in the environment of Cum-Ex transactions.
The written grounds for the judgement with the file number 2 K 2672/17 are not yet known. They will probably soon be published on the homepage of the Cologne Fiscal Court at www.fg-koeln.nrw.de.