Macquarie is one of a number of banks being investigated by German authorities in connection with alleged dividend tax fraud. In November, Danish Tax Minister Karsten Lauritzen said his country was also looking at the Australian firm's conduct. That came amid a broader crackdown on tax fraud in Denmark after offshore financiers stole almost $USD billion from state coffers in a fraudulent rebate scheme.
"Before we see a settlement on this and can see a stronger commitment from them on a new way of conducting business, we cannot do new business,"” Allan Polack, the chief executive officer of Copenhagen-based PFA, said in a phone interview.
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