Warburg-Bank: Action against tax reclaims failed
Hamburg-based Warburg Bank, which is involved in the cum-ex scandal, has failed in its lawsuit against tax reclaims from the Hamburg tax authorities in the three-digit million range. The 6th Senate of the Hamburg Fiscal Court ruled last Thursday in so-called cum-ex proceedings and dismissed the action, the court announced on Monday, without giving further details of the case. An appeal was therefore not permitted. However, there is the possibility of an appeal against denial of leave to appeal to the Federal Fiscal Court.
According to dpa information, the case concerns a lawsuit filed by Warburg Bank in which it wanted to have tax reclaims by the tax authorities for the years 2007 to 2011 totaling 155 million euros declared unlawful.
According to the bank, it had paid this sum in 2020 and thus settled all claims - but at the same time announced that it would take legal action against this.
Hamburg's Senator for Finance Andreas Dressel (SPD), who did not want to comment on the details, citing tax confidentiality, called the decision of the tax court a "milestone in the case law on the cum-ex proceedings" in Hamburg.
"The fact that the action was dismissed by the tax court in the cum-ex proceedings fully confirms the legal opinion of the Hamburg tax authorities in these proceedings," he said. "The tax claim asserted was justified, our tax administration acted lawfully and ultimately averted damage to taxpayers."
Despite Warburg Bank's efforts to challenge the tax reclaims worth millions, German courts, including the Hamburg Fiscal Court, have consistently ruled against them in cum-ex proceedings related to bank finances from 2007 to 2011. These reclaims, totalling 155 million euros, were considered valid by the Hamburg tax authorities, bolstering their stance in these judicial matters.
Source: www.dpa.com
