The Netherlands fines Morgan Stanley $117 million | economy

Dutch prosecutors said on Thursday that they had imposed a total fine of 101 million euros ($117.10 million) on two Morgan Stanley subsidiaries in London and Amsterdam, for evading taxes on profits.

The prosecution added that the penalty is separate from the tax liability that Morgan Stanley paid to the Dutch tax administration at the end of 2024, including the accrued interest.

Under Dutch law, domestic shareholders are entitled to a refund or offset of dividend taxes, while foreign beneficiaries are usually not.

The prosecution stated that Morgan Stanley used a special structure that allowed ineligible parties to claim these tax deductions without legal basis.

Earlier this year, prosecutors announced that they would subpoena Morgan Stanley, but shortly before the criminal proceedings were decided, the financial services company accepted the fine.

Morgan Stanley said it was “pleased to resolve this historic issue”, which concerns corporate tax returns filed in the Netherlands more than 12 years ago.

Information about Morgan Stanley

• Morgan Stanley is one of the largest American and international financial institutions and was born in September 1935.
• Morgan Stanley has its central headquarters in New York along with hundreds of branches in more than 40 countries.
• The bank has an employee network exceeding 80 thousand people.
• Morgan Stanley shares closed yesterday, Thursday, up 1.52% at $168.
• The bank’s revenues reached $18.2 billion in the third quarter of 2025, an increase of 18% over the same period in 2024.
• The bank’s net profits for the third quarter of 2025 amounted to about $4.6 billion, an increase of more than 43% over the same period of 2024.