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THE MYSTERY OF THE AMERICAN PENION FUNDS

January 31, 2017

“Several American pension funds are buying up in Danish companies. The American pension funds don’t pay tax in Denmark, accordingly the very large refundings of dividend tax”
11 times a female operation manager at Danish tax in Høje-Taastrup writes thus to her superiours at tax in order to explain the enormous payouts from Danish tax in refunded dividend tax on shares. This according to Danish daily Politiken on Sunday.
The lawyer for the Danish state (Kammeradvokaten) Karsten Hagel Sørensen analyzes in a report, what happened, when the Danish state paid out multiple billions of DKK with no one intervening.
He points out that the employees at Danish tax whose’ duty it was to survey the payouts, accepted the operation manager’s explanation, although she according to the state’s lawyer had no evidence of it.
Nevertheless, in the news item the Danish state’s lawyer is obviously not considering, where the female operation manager might have learned about the explanation with the American pension funds?
Did it stem from a reliable source? Maybe it would be reasonable to ask for having this fact cleared up?
The operation manager in question had even offered ”a superior boss” to investigate further the payouts of billions. “But this proposal was turned down by the boss”, Danish daily Politiken writes.
Accordingly the accounts were forwarded month by month with clear endorsements from tax to the Ministry of taxation. At the Treasury nobody either questioned the explosively increasing payouts, the daily states.
Actually it might be interesting for the Danish public to learn for how many months in a row precisely accounts with clear endorsements were forwarded from tax to the Danish Treasury, mightn’t it?
The report from the Danish state’s lawyer (Kammeradvokaten) is ‘secret’, as it concerns staff. However there is a level to the confidentiality as Danish daily Politiken already has access to the secret report. Yes, to be precise Politiken has actually read the report. So why mustn’t we the people?
The case about fraud with the refunding of Danish dividend tax amounts to 12,3 billion DKK. / UD

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