TAX NEWS - June 2010

Germany Tax Evasion: Germany buys another tax evasion CD

Germany and the state of Lower Saxony have bought another CD with bank data on 20,000 suspected tax evaders with accounts in Switzerland.

Lower Saxony's finance minister, Hartmut Möllring, says 255,000 swiss francs was paid for the CD.

The data is to be passed onto relevant German states to collect the taxes owed.

Möllring says tax income for Germany is estimated to be in the double-digit millions at least.

North Rhine-Westphalia bought a CD in February for 2.5 million euros—half of which was paid by the federal government.