Members of the European Parliament’s Subcommittee on Tax Matters (FISC) have taken stock, with several experts, on Wednesday 24 February, of tax arrangements like ‘CumEx’, ‘CumCum’ and, more generally, on withholding tax recovery systems within the EU.
‘Cum/Ex’-type dividend arbitrage strategies use rapid share transfers to be reimbursed several times for a tax paid only once. In the ‘Cum/Ex Files’ case in 2018, European banks were able to evade tax on share dividends in...