Kategorie: Politics Law Society

BGH approves clauses that provide for lump-sum compensation in response to cartel damages In a judgment from February 10, 2021, the Bundesgerichtshof (BGH) – Germany”s Federal Supreme Court – found a clause providing for lump-sum compensation in response to damages claims lodged on the basis of unlawful cartel arrangements to be lawful (Az.: KZR 63/18). The case concerned claims for damages that had been asserted against one of the members of the so-called “Schienenkartell” (rail cartel) that was exposed back in 2011. The cartel members had been colluding to fix,…

BGH: Advertisements that feature test verdicts without referencing the source are unlawful Advertisements that feature test verdicts must include a reference to the source that is clearly visible to consumers. That was the verdict of the Bundesgerichtshof (BGH) – Germany”s Federal Supreme Court – in a ruling from April 25, 2021 (Az.: I ZR 134/29). Products that perform well in tests conducted by prestigious institutions can draw on these accolades as a source of positive publicity. We at the commercial law firm MTR Rechtsanwälte note, however, that advertisements that feature…

Turkey shares financial data – Tax dodgers should consider submitting a voluntary declaration The automatic exchange of financial information is supposed to assist countries in their efforts to tackle cross-border tax evasion. Turkey is now among the countries that share information with the German tax authorities. The automatic exchange of information is a powerful weapon in the fight against cross-border tax evasion. More than 100 countries are party to the international agreement, which sees the signatory states mutually exchange financial information relating to their taxpayers who have accounts abroad. Among…

Voluntary disclosure: Germany”s Federal Minister of Finance purchases tax CD from Dubai Germany”s Federal Minister of Finance, Olaf Scholz, has purchased a CD from Dubai that contains confidential information pertaining to possible tax evaders. A number of taxpayers – including quite a few from Germany – ought to be concerned that their tax evasion will be discovered. There has been little to report on recently regarding the purchase of so-called “Steuer-CDs” (tax CDs). That is until now: Germany”s Federal Minister of Finance (“Bundesfinanzminister”) has directed the Bundeszentralamt für Steuern –…