Germany Plans to Extend Statute of Limitations on Cum-Ex: HB

June 9, 2020, 2:00 PM

Finance Minister Olaf Scholz plans to extend the statute of limitations to 25 from 20 years, Handelsblatt reports, citing an interview with him and a draft law.

  • Draft law would extend limitation statute for prosecution to two and a half times the statutory limitation period, which would equate to lengthening it to 25 years from 20 years
  • Scholz also wants to impose more reporting obligations and stricter liability rules on the financial industry, Handelsblatt reports, citing a Finance Ministry letter to financial industry associations
    • Liability rules for issuing incorrect tax certificates would be tightened
    • Financial institutions would also need ...

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