The Danish Minister of Taxation on 14 September 2020 announced that the Government intends to present a bill in December 2020 exempting nonresident charitable organizations from Danish withholding tax (WHT) on portfolio dividends.Resident charitable organizations are subject to 22% tax on portfolio dividends. However, such organizations can claim a tax deduction for actual distributions, and provisions for distributions, to charitable purposes usually causing the effective taxation of dividends to be nil. By contrast, nonresident charitable organizations are subject to 22% WHT on dividends received from Danish companies which subsequently may be reduced to 15% through a refund process. The Danish...