Dutch criminal authorities ask Morgan Stanley for documents related to tax probe
Add BT as a preferred source
DeeperDive is a beta AI feature. Refer to full articles for the facts.
[BENGALURU] Dutch criminal authorities have asked for documents concerning whether a Dutch unit of Morgan Stanley accurately reported its taxes and properly maintained its books and records from 2007 to 2012, the US bank said on Monday.
Morgan Stanley in its quarterly report said the probe followed civil litigation by the Dutch Tax Authority into the bank having taken 124 million euros (S$199.2 million) of credits to reduce its corporate tax liabilities for the 2007 to 2013 tax years.
The tax authority has said Morgan Stanley did not have legal title to securities that would have entitled it to the credits, the bank said.
Morgan Stanley declined to elaborate on the filing.
REUTERS
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Share with us your feedback on BT's products and services
TRENDING NOW
Autobahn Rent A Car directors declared bankrupt over S$50 million each owed to DBS
Amazon’s MGM Studios gains creative control over ‘James Bond’ franchise
UOB’s Wee Ee Cheong says S$4.9 billion Citi deal ‘paying off’ as Asean push accelerates
In taxing wealth, how far can Singapore push property owners?
