Denmark says a number of U.S. pension funds have agreed to pay back money in connection with the Nordic country’s efforts to settle a dividend tax-fraud case.
Tax Minister Karsten Lauritzen said on May 29 that 61 pension funds based in the U.S., and their affiliates, have agreed to pay a total of 1.6 billion kroner ($239 million), after it emerged that a number of tax reimbursements to offshore investors were made erroneously.
The development comes as Denmark tries to recover almost $2 billion in lost tax revenue after financiers swindled the state by speculating in stock purchases with the ...
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