Politics

German chancellor to face MPs over tax-fraud probe


German chancellor Olaf Scholz faces lawmakers’ questions on Friday over his role in tackling a multibillion-euro tax fraud. The sprawling probe, known as “cum-ex” or dividend-stripping, investigates banks and investors who traded shares around their dividend payout day, blurring stock ownership and allowing multiple parties to falsely reclaim tax rebates on dividends. The loophole, now closed, has snowballed into a political scandal.

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