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Reporting item 31 – €1 billion of interest payable for taxes evaded foregone

Nov 13, 2018

Executive summary

In recent years, the tax authorities purchased a large number of tax data discs. These primarily contained information about financial investment by Germans abroad. In response, many citizens submitted voluntary disclosures to the tax offices on financial investments abroad which they had previously concealed. The analysis of the tax data discs yielded additional tax revenues of billions of euros. Interest is payable on evaded income tax. The monthly interest rate for this is 0.5 per cent. Interest is payable both on the annual tax amounts evaded and the evaded income tax prepayments.

We found that the tax offices only charged interest on the annual tax evaded. This was due to inadequate guidance and a lack of IT support for calculating the amount of interest on prepayments. As a result, tax revenue of approximately €1 billion has been foregone since 2010. We demand that jointly with the federal states the Federal Finance Ministry promptly take steps to provide IT support for assessing tax evasion interest on tax prepayments.

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