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20 April 2020updated 06 Oct 2020 9:45am

Denmark bans companies registered in tax havens from receiving coronavirus aid

By Samuel Horti

Denmark will block any companies registered in tax havens from receiving state financial support during the coronavirus crisis, its government has said.

Firms registered in countries such as Panama, the Seychelles and the Cayman Islands will not be able to apply for the government’s newly extended 100 billion Danish krone (£11.72 bn) aid scheme for businesses hardest hit by the virus. The list of 12 countries comes from the European Union’s list of “non-cooperative tax jurisdictions”.

Any businesses applying for an extension of the state funding must also promise not to pay dividends or make share buy-backs in 2020 and 2021.

Earlier this month, Poland moved to restrict payments to large firms based on whether they paid taxes in the country. 

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