Information regarding German tax reclaims
The tax authority in Frankfurt has requested SEB’s German subsidiary DSK Hyp AG to retroactively repay transparently reported withholding tax from more than five years ago. SEB strongly opposes the decision and considers these reclaims to be in violation of both EU law, German law and the practice that the tax authority itself applied at the time.As SEB has communicated in its quarterly reports since the third quarter of 2017, the German Federal Ministry of Finance instructed the local tax authorities in July 2017 to review historical transactions involving the crediting of withholding