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Rabobank

Nederlandse bank, die zich sterk op de agrarische sector richt.

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Dienstverbanden: hoofdfunctie

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2019

Already in 2005, the FIOD detected worldwide billion-dollar fraud with dividend tax

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Eric Smit & Siem Eikelenboom

Eric Smit & Siem Eikelenboom

At the end of 2005, the FIOD - the Dutch Fiscal Information and Investigation Service - was well aware that a Fortis division was engaged in dividend stripping. This type of trade with dividend has seriously disadvantaged tax authorities in a number of countries; the damage amounts to billions of euros. However, the FIOD did not share this information with sister services abroad, which therefore remained ignorant of the fact that their systems were susceptible to this type of fraud as well. It was not until 2013 that the CumEx scandal broke out in Germany.