PE firms take heavy fines as Danish Tax Agency wins decisive case ending ten-year dividend dispute
Denmark’s Supreme Court rules in favor of the nation’s authorities in a tax evasion case against private equity firms and a US tech group, with landmark significance for 37 companies.
BY NICOLAI RAASTRUP, TRANSLATED BY DANIEL FRANK CHRISTENSEN
Monday, the Danish Tax Agency won an important triumph against multinational companies after the country’s supreme court ruled that five private equity firms, all former owners of domestic telecom TDC, must pay taxes on a figure in DKK billions off dividends transferred between the Scandinavian nation and Luxembourg.
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