Taxes hit Danish investors unfairly
Comments published by the Danish Investment Fund Association, IFB, suggest that Danish investors are getting a raw deal from the country’s fiscal policy stance.
At a conference on ETFs arranged by Nasdaq, Saxo Bank and iShares, chief executive Jens Jørgen Holm Møller said that “competition on price and quality is a given for investors, so it is important to encourage free competition on a level playing field between Danish and foreign funds. Denmark is, every day, missing out on both tax revenue and jobs because of the current rules.”
“Danish investment funds should be able to be sold abroad, and foreign investment funds in Denmark. Therefore it is important to consider both imports and exports when considering a final solution.”
According to analysis performed by Morningstar cited by the Association in December 2014, the local funds industry has been offering a high level of quality from its products when ranked against products manufactured in other European countries.
What this means is that Danish fund investors have historically maintained good access to quality products, Holm Møller said at the time.