The largest tax evasion in the history of the gang, robbed in the last five years of $ 60 billion

New Delhi, January 28, 2020 Monday

The largest tax evasion bill in the history of the gang has exploded. Two investment bankers Britain Martin Shields and Kiwi Paul Mora stole nearly $ 60 billion (4.3 million rupees) tax from the treasures of different European countries.

Hundreds of bankers and thousands of investors have also joined in the work. But he did not know what was going on, the tax evasion occurred in the period 2006 to 2011.

Britain Martin and Paul Mora both worked for Bank of America Merrill Lynch, both of whom met in London, together they started a scheme they called 'cum-ex trading', meaning With Our Without. This worked to protect both investors from double taxation, meaning that their work would at least be taxed on investment income and save more.

Double refund on dividend tax payment

These people were so masterful and clever in their work that they received double refunds on dividend tax payments, used the entire game using specific timing and law holes, and their expertise in this work was daunting, thanks to 'cum-ex trading'. The business grew rapidly.

$ 30 billion loss to Germany

According to the report, the biggest loss of tax evasion has been to Germany, Germany lost about $ 30 billion (Rs 2.1 lakh crore), France lost about $ 17 billion (1.2 million crore) to tax evasion, besides Spain, Italy, Countries like Belgium, Austria, Norway, Finland, Poland, have suffered tax evasion.

Still not fully charged

Sanjay Shah, a British citizen living in Dubai, suffered damages of nearly $ 2 billion (Rs. 14,000 crore) to Denmark's government treasury through inspiration from 'cum-ex trading'. Is not