Germany Plans to Tighten Rules on Tax Evasion, Die Welt Reports

Germany plans new rules to target people who admit to evading taxes only under threat of exposure, Die Welt reported, citing a bill to be considered by Germany’s Cabinet on Wednesday.

Tax evaders will also have to reveal all illicit accounts to avoid prosecution, the newspaper said. Penalty interest rates are still being discussed, Die Welt reported, citing Leo Dautzenberg, finance spokesman for the ruling CDU party.

To contact the reporter on this story: Chris Reiter in Berlin at creiter2@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net.

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