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In end, financial authorities capitulated before jumble: with at least 82 different foundations, trusts and letterbox companies inseven tax havens, entrepreneurial family Engelhorn had veiled ir assets for years. And that was so skilful that initial accusation of comprehensive tax evasion remained in end of little evidence: Engelhorn family, after all descendants of BASF founder, agreed to a deal with tax office in 2013. According to German Zeitung (SZ), 145 million euros were returned to Treasury, and two probation penalties were added – no family member had to go to jail.
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Today, so lovely-sounding name Engelhorn One is biggest tax treatment that Germany has ever seen. But apparently unclear offshore empire of family was still far greater than previously known, as so-called Paradise papers show: Not even one fifth of entire company network was known to investigating authorities according to Sz. For family Engelhorn, it was obviously an easy way to perfect tax evasion with vonKanzleien like Appleby.
According to Panama papers from Jahr2016, Paradise Papers of International network Voninvestigativen journalists bring subject of tax evasion back to PolitischeAgenda. The problem is long known, but eerily complex: according to International Network for Tax Justice (TJN), governments worldwide lose around 700 billion US dollars every year, as corporations and individuals have ir assets thanks to fiscal havens and Cover letter box companies.
Banking secrecy no longer exists
Even if such sums do not sound like this: In recent years, much has been done in fight against tax evasion, especially for private individuals. Anyone who wanted to use 2007 DasBankgeheimnis in year and set up an anonymous numbered account in Switzerland had hardly any problems with it. Since September of this year, however, Treasury has generally been aware of this: foreign bank must automatically contact tax authorities of country of residence. And authorities are also exchanging mselves.
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48Staaten are now on board, in coming year re will be around one hundred states – including usual tax havens like Singapore or Cayman Islands. However, previous exchange dive is not far enough from network for tax fairness: too wenigeEntwicklungsländer are in process, too many loopholes offer mechanism.
How transparent must companies be?
For companies, possibilities for tax optimization have also become more complicated – but only in small increments. 60 countries, including AlleEU states, have now pledged to exchange ideas: International Corporations müssengegenüber Treasury to publish in which countries y welcheUmsätze and generate profits. It is a first small success, at urging of industrial countries clubs OECD. But many, including European Parliament, do not go far enough. They want this data to be visible to public, for example on net.
