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Denmark Pays Aid to Firms in Tax Havens Despite Law, TV2 Reports

May 15, 2020, 5:22 AM

Denmark has given at least 261 million kroner ($38 million) in state aid to companies that are based in tax havens, despite a law aimed at preventing such payments, broadcaster TV2 reported, citing government files.

Read more: Tax Exiles Risk Being Marooned When Europe Gives Virus Aid

Some 247 companies are fully or partly based in countries where they have been avoiding Danish taxes, but they aren’t prevented from getting state aid because the law only covers the dozen countries on the European Union tax haven blacklist, TV2 said.

The broadcaster had investigated some of the 24,000 companies that have so far tapped a government program that partly covers employee wages at firms exposed to lockdowns.

To contact the reporter on this story:
Christian Wienberg in Copenhagen at cwienberg@bloomberg.net

To contact the editor responsible for this story:
Tasneem Hanfi Brögger at tbrogger@bloomberg.net

© 2020 Bloomberg L.P. All rights reserved. Used with permission.

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