Denmark Demands 9 Foreign Banks Repay $133M In Rebates

Law360 (February 4, 2020, 8:28 PM EST) -- Denmark has demanded that nine foreign banks repay 900 million kroner ($133 million) that they are accused of helping a Canadian pension plan receive in improper dividend tax rebates, the country’s tax authority said Tuesday.

The demand to the banks, which weren’t identified, is part of an ongoing dispute between the Danish tax agency, Skat, and the Health Care of Ontario Pension Plan. According to Skat, from 2011 to 2014, the plan received rebates to which it wasn’t entitled.

In September, the authority demanded that Finland’s Nordea Bank make a similar repayment of 900 million kroner in relation to the dispute....

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