Denmark is adopting broad changes to how foreign investors are refunded dividend taxes as the government hunts down more than $2 billion it says was tricked into turning over.
In a new agreement with the country’s financial industry, banks will play a central role in monitoring payments, and will be held liable for clients’ outstanding taxes. All foreign investors will have to register with the Danish Tax Agency, according to a statement by the tax ministry.
The new system is designed to avoid a repetition of a years-long coordinated attack ...