ESMA News

ESMA delivers statement on Cum-Ex/Cum-Cum at EP Subcommittee on Tax Matters

The European Securities and Markets Authority (ESMA), the EU’s securities markets regulator, represented by Mr Fabrizio Planta, Head of Markets and Data Reporting Department, addressed yesterday the Members of the European Parliament Subcommittee on Fiscal Matters regarding the “Cum-Ex/Cum-Cum” tax fraud scandal. He referred to the past and prospective role of ESMA, and the recommendations and conclusions of the Final Report on the inquiry.

Mr Planta shared the floor with Ms Olaya Argueso Perez, Editor in Chief at Correctiv, and Prof. Christoph Spengel, Professor of International Business Taxation at Mannheim University and Scientific Council of the German Federal Ministry of Finance.

In September 2020, ESMA published its Final Report on its inquiry into Cum/Ex, Cum/Cum and withholding tax (WHT) reclaim schemes. ESMA’s key proposal was that national competent authorities for securities markets should be empowered to share information with the tax authorities, to assist in detecting WHT reclaim schemes.

Further information:

Dan Nacu-Manole

Communications Officer

   +33 (0)1 58 36 52 06

@   press@esma.europa.eu

Original Article Here

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