LEX COLUMN: Danish tax on green farm an envious move?
Cometh the green revolution, cometh the tax demand. Danish authorities want Orsted to pay more tax on profits earned from two UK wind farms. The extraterritorial cash grab raises tricky questions about the jurisdictions that should apply to renewables now they are generating serious income.
The Danish Tax Agency is claiming DKr6.6bn ($1bn) including interest on two British thickets of windmills. It is an odd move. The wind farms are owned by British subsidiaries of Orsted, a glamour business that has pioneered wind energy and enjoys a high stock rating. Denmark has a double taxation treaty with the UK that should cover them...