Get a complete overview of your dividends and dividend taxes

Are you one of the many wealthywho, through a Danish company, trade foreign shares?

Then you probably know that the tax authorities of the country where a share is issued withhold the dividend tax when dividends are paid on the stock.

You are entitled to deduct part of the dividend tax from your Danish corporation tax. The rest you can normally apply back abroad because Denmark has entered into a number of double taxation agreements with other countries' tax authorities.

Repayment of dividend tax from abroad - how?

You are responsible for applying for a refund of the remainder of your dividend tax by the foreign authorities.

If you have shares in many countries – it is a big task to follow up on whether you have received all of the tax dollars that you are entitled to.

Moreover, you often have to arm yourself with years of patience before the refund happens. If it happens. It is not always the time that danish shareholders have succeeded in this mission.

In many cases, you can enter into an agreement with your bank that it is responsible for the recovery of the dividend tax. But there are a whole host of examples of this not happening consistently anyway. And maybe you won't notice because there may be years of delay on the payout.

How to get paid the dividend tax you are entitled to

At Assure, we serve wealthy individuals with complete wealth reporting. We automatically retrieve data from 35 banks in Denmark and abroad.

This allows us to provide you with an overall overview of dividends from each country and of the dividend taxes you have paid. The report is broken down by ISIN code by country – with complete specification of the amount you can recover country by country.

We typically prepare the specification in connection with the presentation of financial statements. With the auditor's report on the company statement in hand, it is clear to you whether your company has been offset against the right amount at Skat and what amount you have the opportunity to get a refund from foreign tax authorities.

Practical help in obtaining the dividend tax from abroad

When Assure has prepared the report for you on the dividend taxes that have not been offset against your Danish corporation tax, you will of course be wiser.

However, there is still a significant task for you in applying for your claim abroad.

At Assure, we have a team that is highly experienced in the recovery of eligible withholding taxes. As our customer, you can rest assured that the recovery will actually happen.

Your bank doesn't always have the optimal setup to handle dividend tax

If it is relevant for you to reclaim the withholding tax you have paid abroad, you may have an agreement with your bank in Denmark to let them handle the reclaim for a fee. Experience shows that it's a good idea to check and follow up on whether the recovery is done by the bank. Assure can help you with this.

Dividend tax overview is just one of a wide range of reporting and accounting services we offer to private wealthy individuals and family offices.

Please contact us for a confidential and non-binding conversation about how we can help you create an overview of the assets, regardless of its spread and complexity.