EU Court of Justice Issues Ruling in Danish Beneficial Ownership Cases
Published 26 February 2019
Category: Taxation / VAT
On 26 February 2019, the EU Court of Justice (CJEU) issued judgments containing preliminary rulings in the Danish beneficial ownership cases.
The CJEU states in the judgments that there is a general principle of anti-abuse in EU law which applies even where there are no domestic or agreement-based provisions providing for such anti-abuse rules. Proof of an abusive practice requires the presence of objective circumstances (e.g. achieving an unfair advantage, such as an unfair tax advantage) and a subjective element (e.g. the fact that a structure has been put in place mainly to achieve such unfair advantage).
Next step: The CJEU judgments will likely have a big impact on international group structures and will also contribute to the interpretation of the anti-abuse principles of EU law and the “beneficial owner” concept.
See the CJEU judgment in the dividend cases here.
See the CJEU judgment in the interest cases here.
Also tagged ‘Beneficial Ownership’
Restrictions on Public Access to Beneficial Ownership Information
The Danish Business Authority reannounced that new restrictions on public access to information regarding beneficial owners in the Danish Business Register will be implemented.
Beneficial OwnershipKYC / AMLDanish Parliament Strengthens Registration Requirements of Ultimate Beneficial Owners
On 2 May 2019, the Danish Parliament adopted amendments to the Danish Companies Act, which implements part of the 5th EU Anti-Money Laundering Directive.
Beneficial OwnershipComplianceDanish RegulationDisclosure RequirementsKYC / AMLProposal to Strengthen the Registration of Ultimate Beneficial Owners
On 13 March 2019, the Danish Government presented a proposal for an amendment of various acts including the Danish Companies Act which implements part of the 5th EU Anti-Money Laundering Directive concerning the registration of ultimate beneficial owners.
Beneficial OwnershipComplianceDanish RegulationDisclosure RequirementsKYC / AMLOther updates
Revised sustainability standards sent for public consultation
The European Financial Reporting Advisory Group (“EFRAG”), published the draft revised European Sustainability Reporting Standards (“ESRS”).
ComplianceCSRDDisclosure RequirementsESRSSFDRSustainabilityMeasures to simplify the EU Taxonomy adopted
In July, the EU Commission adopted a Delegated Act amending the Taxonomy Disclosures, Climate and Environmental Delegated Acts (the “Delegated Act”).
ComplianceCSRDDisclosure RequirementsESRSSFDRSustainabilitySustainable investments: Requirements and practices
The Danish Financial Supervisory Authority (DFSA) has compiled a report summarizing its recent thematic reviews of sustainable financial products, key legal requirements, and central expectations.
ComplianceCSRDDisclosure RequirementsESRSSFDRSustainabilityProposed amendments to section 7p of the Danish Tax Assessment Act
On 26 August 2025, a draft bill regarding amendments to section 7p of the Danish Tax Assessment Act was submitted for consultation.
Venture CapitalRestrictions on Public Access to Beneficial Ownership Information
The Danish Business Authority reannounced that new restrictions on public access to information regarding beneficial owners in the Danish Business Register will be implemented.
Beneficial OwnershipKYC / AMLESMA Report: Improvements needed in the supervision of sustainability risks and disclosures
The report presents ESMA’s analysis and key findings from the CSA, along with its overall assessment of market participants’ adherence to applicable rules and standards.
ESMASFDRSustainability