German chancellor to face MPs over tax-fraud probe

German chancellor Olaf Scholz faces lawmakers’ questions on Friday over his function in tackling a multibillion-euro tax fraud. The sprawling probe, often known as “cum-ex” or dividend-stripping, investigates banks and buyers who traded shares round their dividend payout day, blurring inventory possession and permitting a number of events to falsely reclaim tax rebates on dividends. The loophole, now closed, has snowballed right into a political scandal.