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A CROSS-BORDER INVESTIGATION

How Europe’s taxpayers have been swindled of €55 billion

The vast so-called cum ex tax scandal which has rocked Germany in the past decade has already cost the country an estimated €30 billion. It was assumed that a change in the law in 2016 definitively outlawed such trades. But as a cross-border and undercover investigation now reveals, the trade is still flourishing and has targeted far more countries and has cost far more than was previously thought, affecting nearly all of the biggest economies in Europe. Is this the heist of the century?

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