Denmark's tax authority SKAT has overruled bunker company Monjasa's right to use the advantageous Danish tonnage tax scheme, and the authority has also demanded repayment of a million dollar figure. Monjasa has responded by taking the matter to Denmark's Tax Appeals Agency.
According to Monjasa A/S' 2014 annual report, the case will cost the company USD 4.6 million, covering the additional tax payments for the period 2010-2013, as Monjasa - according to SKAT's ruling - is subject to standard corporate taxation.
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