Several banks operating in tax havens

January 11th, 2012
Story by PETER Nyholm of JULIE Hornbek TOFT | Finans Watch

Nykredit played a key role in Sydbank tax-feint, and has also helped Jyske Bank’s customers at the Suncoast to borrow against their home equity. Minister of Taxation is now entering the case.

Several Danish banks as Sydbank been able to help foreign customers to optimize their succession through tax havens.

It would ceteris paribus good could be done to save a fortune that would otherwise appear as equity in their property, for example. Spain, via Jyske Bank, explains Jens Lauritzen, CEO of Jyske Bank’s foreign operations:

“We have also financed up to 100 per cent. Of a property value in some inherited cases. But it is not a product we have advised on – we have instead referred to the client’s lawyer or accountant. It is not a product that is good for all customers, and it’s only a few who are clients in Switzerland, where we have no duty to inform. “

Nordea does not reject

Jens Lauritzen says that Jyske Bank’s customers must sign that they will report their assets to the IRS. But does the customer home in the bank’s branch in Switzerland, the bank can not be sure that the customer actually does it.

“If this is so that customers are not telling the truth or cheat us, so it may seem that the authorities do not get the right information. But we have not actively sold these products,” says Jens Lauritzen.

In Nordea, which is taking over a part of Sydbank Swiss customers will not deny that one has been able to do something similar.

“Nordea does not comment on competitors’ practices. But generally, that Nordea advises clients under the rules that apply – it also includes the tax in the countries in which we operate,” says the press department.

Home equity on the Suncoast

As revealed in the newspaper Jyllands-Posten yesterday, Nykredit has provided mortgage loans to finance Sydbank tax feint in Spain, according to an internal mail to Sydbank CEO of Karen Frøsig primarily have been intended to reduce inheritance tax.

Now, says Nykredit that you have mortgaged home equity on the coast for more partners than Aabenraa Bank, including Jyske Bank. And you can not deny that money ended up in tax havens, explains Hanne Egaa, area director for International Lending.

“Customers are predisposing themselves to the money they get paid. We provide loans, but where the money is transferred to the mix, we are not in. But we report all our mortgages to the Danish tax authorities,” says Hanne Egaa.

Taxation in action

Now also Tax Möger Thor Pedersen (SF) into the proceedings:

“It is clear that my awareness increased if a large bank is proposing a maneuver in which the tax is due on the loan must be placed in a tax haven country with no accountability. If it is a widespread traffic in the financial sector, it is certainly something we will look more closely. “

Sydbank commented yesterday Jyllands-Posten’s unveiling. The message was that you do not have violated tax laws, but advised to optimize clients’ wealth by borrowing against equity in their properties and invest the proceeds.

Original Article in Danish below.

Flere banker arbejder i skattely

Af PETER NYHOLM of JULIE HORNBEK TOFT

Offentliggjort 11.01.12 kl. 06:45

Nykredit spillede en hovedrolle i Sydbanks skattely-finte og har også hjulpet Jyske Bank-kunder på Solkysten med at belåne deres friværdier. Skatteministeren går nu ind i sagen.

Flere danske banker har som Sydbank kunnet hjælpe udenlandske kunder med at optimere deres arveforhold via skattely.

Det ville alt andet lige godt kunne lade sig gøre at gemme en formue væk, der ellers ville fremstå som friværdi i ejendom i f.eks. Spanien, via Jyske Bank, forklarer Jens Lauritzen, direktør for Jyske Banks udenlandske aktiviteter:

“Vi har også finansieret op til 100 pct. af en ejendoms værdi i nogle arvesager. Men det er ikke et produkt, vi selv har rådgivet om – vi har i stedet henvist til kundens advokat eller revisor. Det er ikke et produkt, som er godt for alle kunder, og det er kun et fåtal, som er kunder i Schweiz, hvor vi ikke har indberetningspligt.”

Nordea afviser ikke

Jens Lauritzen oplyser, at Jyske Banks kunder skal skrive under på, at de vil indberette deres formueforhold til skattemyndighederne. Men hører kunden hjemme i bankens afdeling i Schweiz, kan banken ikke være sikker på, at kunden rent faktisk gør det.

“Hvis det er sådan, at kunderne ikke fortæller sandheden eller snyder os, så kan det forekomme, at myndighederne ikke får de rigtige informationer. Men vi har ikke aktivt solgt sådanne produkter,” siger Jens Lauritzen.

I Nordea, der er ved at overtage en del af Sydbanks Schweiz’ kunder, vil man ikke afvise, at man har kunnet gøre noget lignende.

“Nordea kommenterer ikke konkurrenters praksis. Men generelt gælder det, at Nordea rådgiver kunder i henhold til de regler, der gælder – det omfatter også skattereglerne i de lande, som vi opererer i,” lyder det fra presseafdelingen.

Friværdier på Solkysten

Som afsløret i Morgenavisen Jyllands-Posten i går har Nykredit leveret realkreditlån til finansiering af Sydbanks skattefinte i Spanien, som ifølge en intern mail til Sydbank-topdirektør Karen Frøsig først og fremmest har haft til formål at reducere arveafgift.

Nu oplyser Nykredit, at man har belånt friværdier på Solkysten for flere samarbejdspartnere end Aabenraa-banken, herunder Jyske Bank. Og man kan ikke afvise, at pengene er endt i skattely, forklarer Hanne Egaa, områdedirektør for Nykredit International.

“Kunderne disponerer selv over de penge, de får udbetalt. Vi yder lån, men hvor pengene bliver overført til, blander vi os ikke i. Men vi indberetter alle vores realkreditlån til de danske skattemyndigheder,” siger Hanne Egaa.

Skatteminister i aktion

Nu går også skatteminister Thor Möger Pedersen (SF) ind i sagen:

“Det er klart, at min opmærksomhed skærpes, hvis en stor bank foreslår en manøvre, hvor skattelettelsen beror på, at lånet skal placeres i et skattelyland uden oplysningspligt. Hvis det er en udbredt trafik i finanssektoren, er det bestemt noget, vi vil se nærmere på.”

Sydbank kommenterede i går Jyllands-Postens afsløring. Meldingen var, at man ikke har overtrådt skattelovgivningen, men rådgivet i at optimere kundernes formueforhold ved at belåne friværdi i ejendomme og investere provenuet.

 

 

 

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