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Denmark Adopts New Dividend Tax Model After Multiple Fraud Cases

May 18, 2020, 10:39 AM

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.

After $350 Million Lawyers’ Bill, Denmark Steps Up Cum-Ex Chase

The new system is designed to avoid a repetition of a years-long coordinated attack ...