Morgan Stanley Denies Dutch Prosecutor's Tax Evasion Allegations
Morgan Stanley denied allegations by the Dutch Public Prosecution Service that it evaded tax on almost $1 billion worth of dividends more than a decade ago.
According to the Dutch Public Prosecution Service, an Amsterdam-based subsidiary of a foreign bank filed five corporation tax returns between 2009 and 2013. The returns offset €124 million ($140 million) in tax relating to a total of €825 million in dividends paid on listed Dutch shares, the public prosecution service said in a statement Wednesday without identifying the bank. The prosecutor holds the European parent company and an employee involved at the time responsible.
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