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Cum-ex tax scandal cost European treasuries €55 billion
Reuters gave the following example of how the scheme would work, in essence:
"A bank would agree to sell a company stock, for example to a pension fund, before the dividend payout but delivered it after it had been paid. The bank and the fund would both reclaim withholding tax.
originally posted by: watchitburn
a reply to: MichiganSwampBuck
Any global financial collapse will hurt average people far more than those who profit off these scams.
originally posted by: zardust
Unless its like Iceland but more.