THE £1.4BN TAX HOLE: REFLECTIONS ON DENMARK’S FAILURE TO RECOVER CUM-EX FUNDS IN THE UK
London’s financial district 1. Introduction The Cum Ex Scandals, often dubbed “ the robbery of the century , ” may continue to cast a shadow over the European financial landscape for a long time. These were complex multi-billion pound schemes designed to effect swift trading of shares close to the dividend dates in order to generate multiple tax refunds on a single dividend payment. [1] The bursting of such schemes, which have served as a conduit for the siphoning of about €55 billion , ...