Germany buys tax CD from Dubai
Reminders of the Swiss tax CD’s
The German Federal Central Tax Office (BZSt) purchased electronic data from Dubai in June 2021 to uncover tax crimes. Several years ago, Germany had already purchased so-called data CDs from Switzerland that contained information about Germans who maintained an account abroad. It is to be expected that in connection with investments in Dubai, some criminal proceedings will soon be initiated on charges of tax evasion in Germany.
In June 2021, the data was handed over to the federal states for examination to check whether there are indications of tax crimes. The local prosecutors will then decide whether to initiate criminal tax investigation proceedings.
According to the press release of the Federal Ministry of Finance, the data contains comprehensive information on millions of taxpayers worldwide. Several thousand Germans who have invested assets in Dubai are said to be affected.
With the help of the acquired data, among other things, tax crimes with transnational, international or significant importance are to be uncovered. The data is to provide insights into unknown assets in bank accounts abroad and enable conclusions to be drawn about undeclared income.
International exchange of information
Insofar as indications of tax crimes in other countries arise, the intention is to make these available to the countries concerned within the framework of the international exchange of information.
Federal Finance Minister Olaf Scholz, who is also a candidate for chancellor in the next federal election, commented in this context in a press release issued by the Federal Ministry of Finance:
“We are using all means to uncover tax crimes. With the new data set, we are illuminating the dark corners in which tax offenders have been hiding until now. Now it is the turn of tax investigators to track down the offenders and bring them to justice. In doing so, we’ll ensure that everyone makes their fair contribution to the financing of our community.”
Tax voluntary disclosure without penalty
Anyone who has invested money in Dubai should now check as quickly as possible whether there is still the possibility of a penalty-free tax voluntary disclosure. The law firm Rudolph Rechtsanwälte from Nuremberg, specialist lawyers for criminal law and tax law, has many years of experience in avoiding criminal proceedings for tax evasion through voluntary declarations in accordance with § 371 AO.
