MaTax Lecture: Cum-Ex and Cum-Cum Trades – The Largest Tax Scandal in the History of the German Federal Republic

Research Seminars

Cum-ex deals have recently received a lot of media attention and are widely considered to be a ‘scandal’ that requires political action. Due to the topic’s high complexity, only a few experts are able to fully grasp its entire dimension. In his lecture, Professor Christoph Spengel will explain how this tax avoidance scheme works, quantify the total amount of tax losses suffered by the government based on his own calculations, and discuss adequate policies to prevent malpractice in the future. The lecture will also leave enough room to discuss questions from the audience. Please note that the lecture will be held in German.


Christoph Spengel

Research Associate, Christoph Spengel // University of Mannheim

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Research Associate
Philipp Dörrenberg
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Institute address


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  • Room Raum 1