the Case of suspected fraud with Danish withholding tax can be up to 940 million dollars higher than previously thought because of the failure of banks in Denmark.
It shows the documents from the ministry of finance, as the DR and the stock Exchange is in possession of.
the Money will be added to the 12.7 billion, as foreign investors are estimated to have cheated the Danish tax authorities.
the Papers show that there has been substantial error in the bankordning, as Nordea, Danske Bank and SEB have been going for.
It has according to the ministry resulted in irregular payments made on between 712-940 million. It must have happened in the period 2012-2015.
Bankordningen meant that the three banks had to be allowed to be responsible to pay the refund of the dividend tax back to foreign investors.
It is an opportunity investors have in some countries, not having to pay tax on returns on shares several times. The scheme was closed down in 2015.
What is the dividend tax really is?
A number of prospects and the banking network around the world, has cheated tax authorities in Europe of 410 billion dollars.
There has been fiflet with the repayment of the dividend tax on shares.
But what is the withholding tax actually look like on. Find out more here:
* When a company will provide its shareholders part of the profits, it can pay dividends.
* When the shareholders get dividends, you must pay tax on the amount. In Denmark it is 27 percent, which is automatically deducted, before the benefits come into your bank account.
* Denmark has agreements with a number of countries that can get rid of to pay the Danish withholding tax. This is to avoid double taxation.
* the Agreement applies to several countries in Europe and the USA and is made in order to get more foreigners to buy shares in Danish companies.
* Therefore, some foreign owners of Danish stocks apply for a refund of the tax that is been deducted of the dividends in Denmark, if they can prove that they have owned the shares.
* the Possibility to get the refund also applies to other countries in Europe.
* The possibility has banks and backers used to get paid money. For example, by requiring repayment for the shares, as they have not owned, or to seek a refund for the same share multiple times.
Sources: tax administration, DR.
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