Ørsted fears losing offshore wind tenders following tax amendment
It would lead to additional costs of up to DKK 1 billion if the Danish government ratifies a bill on domestic taxation of international activities, the utility estimates. Denmark's tax minister rejects Ørsted's claim of weakened competitiveness.
A substantial disagreement has arisen between Ørsted and the utility's largest stakeholder, the Danish state. The country's government is proposing a bill to change the Controlled Foreign Company (CFC) taxation law pertaining which parts of an enterprise's business should be defined as foreign and thereby be subject to domestic levies. However, the energy company says the bill sets the stage for an excessively rigid implementation of the rules and adds that doing so would reduce its competitiveness.
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