The European Commission (the Commission) has sent Finland and Denmark formal requests to amend their legislation which, in the Commission’s view, leads to discriminatory taxation of foreign pension funds.

The Commission’s request takes the form of a “reasoned opinion”, which is the second step of the infringement procedure under Article 226 of the EC treaty. The Commission has stated that it may refer this matter to the European Court of Justice if it does nor rely a satisfactory reply within two months.

For more information see the Commission’s press release.