Probe into major tax deduction case completed

Police have sent the results of their probe into Eik bank’s alleged tax deduction irregularities to the prosecution for legal processing.

On 21 September 2017, the Faroese tax authority reported Eik banki to the police after an investigation pointed to irregularities in connection with the bank’s 2011 tax return, which saw the bank receive a DKK 90 million deduction.

Since then, police have, in collaboration with the Danish Fraud Squad, been investigating whether there is any basis for criminal proceedings against the bank.

“The two parties involved have been waiting for a conclusion for more than two years now, and the prosecution is placing top priority on reaching a conclusion in this matter,” says Michael Boolsen, head of the Faroese police.

Translated by prosa.fo