This very Warburg bank ?

Yes !

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Cum-Ex: Warburg Bank fails with lawsuit against tax reclaims

Hamburg-based Warburg Bank, which was involved in the cum-ex scandal, has failed in its lawsuit against tax reclaims by the city's tax authorities before the Hamburg tax court. It had paid the sum of 155 million euros in 2020, but at the same time announced that it would take legal action against this.

According to the Hamburg Fiscal Court (ruling from 9.11.2023 - 6 K 228/20), the reasons for the decision are not yet available. The appeal has not been admitted. However, there is the possibility of lodging 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 from the tax authorities for the years 2007 to 2011 totaling 155 million euros, which it had initially paid in August 2020, declared unlawful.

Hamburg's Senator for Finance Andreas Dressel (SPD), who did not wish to comment on the details, citing tax confidentiality, called the tax court's decision a "milestone in the case law on 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 the taxpayers."

Hamburg Fiscal Court, judgment of 09.11.2023 - 6 K 228/20

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