Christoph Spengel, tax professor from Mannheim, has already been doing research on the topic in question for several years. In 2015, he published a first study on the shady business practice of the Cum-Ex and Cum-Cum deals. Now, Spengel had been working for about seven months on the further examination of the scandal together with a team of journalists. The result: besides Germany, at least ten other European countries are also affected by the fraudulent practices. Consequently, European taxpayers were defrauded of at least 55 billion euros.
Last year, Spengel already calculated that the Federal Government of Germany alone had lost 31.8 billion euros of taxpayers’ money. According to the recently published “CumEx files”, the loss in France amounts to at least 17 billion, in Italy to 4.5 billion, in Denmark to 1.7 billion and in Belgium to 201 million euros.
Christoph Spengel is the holder of the Mannheim Chair of Business Administration and Taxation II and Research Associate at the Center for European Economic Research (ZEW). He is also expert of the committee of inquiry, as well as advisor of the German Federal Ministry of Finance on the topic of the Cum-Ex and Cum-Cum deals.