Tax & Legal

The Bundesrat has tabled a draft bill (21/6377) aimed at strengthening asset recovery in relation to Cum/Ex short-selling transactions and all those involved. The aim is to clarify that confiscation from a third party is unambiguously possible even if that party received the proceeds ‘for the offence’ as an “advanced payment”.

The ECJ has held that the input tax on the costs incurred by managing directors in defending themselves against criminal charges was incurred in a private capacity and was thus not deductible against the output tax on the business turnover.