More banks in crosshairs as Denmark’s tax probe is set to grow
Denmark is trying to find out just how many banks were involved in suspicious stock trades executed for the sole purpose of getting a tax rebate. The transactions in question started more than a decade ago, after Denmark and Switzerland made it possible to claim back taxes on dividends through a revised double-taxation accord between the two countries.
Peter Levring - Bloomberg
Nordea Bank has already been implicated in the trades, and Denmark’s parliament recently discussed whether to take measures against the lender. The bank has said it operated within the letter of the law, but that it wouldn’t conduct such transactions today. It’s also made clear it’s cooperating with the authorities. Denmark "will of course look into this," Business Minister Rasmus Jarlov told Bloomberg.
Already a subscriber?Log in here
Read the whole article
Get access for 14 days for free. No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
