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Danish tax authority wins million-dollar legal dispute – Supreme Court case may follow

Japanese pharmaceutical group Takeda and five investment funds previously owned by telecommunications firm TDC have been ordered to pay DKK 1.2bn (USD 181m) in taxes, after having moved billions of kroner out of the country, a High Court in Denmark has ruled. Preparations for a potential Supreme Court case are now being made.


BY NICOLAI RAASTRUP, TRANSLATED BY DANIEL PEDERSEN

Five investment funds, which used to be under telecommunications firm TDC's management, and Japanese pharmaceutical group Takeda have been instructed to pay DKK 1.2bn (USD 181m) in taxes as a consequence of having moved billions of kroner out of Denmark back in the 2000s.

This ruling was made by the High Court of Eastern Denmark (Østre Landsret) on Thursday.

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