200 tax raids launched in Germany

AFP-JIJI

Hundreds of German tax inspectors launched nationwide raids Tuesday, based on 40,000 data sets on suspected tax-dodgers in Swiss banks from a CD authorities had bought for €4 million ($5.3 million), officials said.

The latest such mass search of its kind was based on data described as “authentic and of excellent quality” by the premier of southwestern Rhineland-Palatinate state, Carsten Kuehl. “Based on the available information, we expect to recover tax revenues worth €500 million nationwide,” he said.

The disk contains information on more than 10,000 customers of various Swiss financial institutions, news website Spiegel Online reported, citing unnamed investigative sources. About 400 tax inspectors and investigators took part in the raids Tuesday, reportedly searching some 200 locations.