Federal Ministry of Finance: Receipts should be kept for longer again

Federal Finance Minister Lars Klingbeil intends to reverse some of the bureaucracy reductions that have been in effect since the beginning of 2025. For example, accounting documents will again be retained for ten years instead of eight, Klingbeil confirmed on Monday. Otherwise, there could be negative repercussions for prosecutorial investigations. SPD leader Klingbeil spoke of a question of justice. "No one should be allowed to get away with tax fraud and tax evasion ." This would make investigations possible for longer. "This applies in particular to criminal cum-cum transactions." The non-governmental organization Finanzwende had warned for months of serious side effects of the bureaucracy reductions that the previous traffic light government had passed, including with the votes of the SPD. According to Finanzwende, the law will make criminal investigations into tax evasion in cum-cum cases virtually impossible.

In cum-ex transactions, investors used banks to obtain multiple refunds for capital gains tax on stock dividends they had paid once. To do this, they transferred shares with (Latin: cum) and without (i.e., ex) dividend entitlements to one another around the dividend payment date. Some of the cum-ex cases have been resolved in court. The judiciary is only just beginning to investigate cum-cum transactions. Cum-cum share transactions are estimated to have caused government losses of €28.5 billion by 2021.

Finanzwende board member Anne Brorhilker said Klingbeil had sent a necessary signal and taken the right step. "Without evidence, there is no basis for repayment." Criminals would profit from this. Praise also came from the Green Party in opposition. Klingbeil is tackling the issue of tax crime. "Credibility and decisive consistency are required here," said Green Party finance politician Katharina Beck.