Last updated 2026-06-27
Novo Nordisk (NOVO-B)
Novo Nordisk (NOVO-B, ISIN DK0062498333) is a Healthcare company domiciled in Denmark, which withholds 27.0% on dividends paid to non-residents. Investors resident in a tax-treaty country can reclaim the excess above their treaty rate (typically 15%) — up to 12.0 percentage points — by filing Form 04.012 with the Skattestyrelsen (SKAT).
Worked example
You receive DKK1,000 in Novo Nordisk dividends
Illustrative, using the typical 15% treaty rate. Your exact treaty rate depends on your country of residence — see the table below.
How much can you reclaim, by residence country?
Denmark withholds 27.0% on Novo Nordisk dividends. Here's the reclaimable amount for investors resident in each country. Click a row for the full guide.
| Your residence | Treaty rate | Reclaimable | |
|---|---|---|---|
| 🇺🇸United States | 15% | 12.0% | |
| 🇬🇧United Kingdom | 15% | 12.0% | |
| 🇩🇪Germany | 15% | 12.0% | |
| 🇫🇷France | 15% | 12.0% | |
| 🇪🇸Spain | 15% | 12.0% | |
| 🇳🇱Netherlands | 15% | 12.0% | |
| 🇧🇪Belgium | 15% | 12.0% | |
| 🇨🇭Switzerland | 15% | 12.0% | |
| 🇮🇹Italy | 15% | 12.0% | |
| 🇸🇪Sweden | 15% | 12.0% | |
| 🇳🇴Norway | 15% | 12.0% | |
| 🇫🇮Finland | 15% | 12.0% | |
| 🇦🇹Austria | 15% | 12.0% | |
| 🇵🇹Portugal | 15% | 12.0% | |
| 🇮🇪Ireland | 15% | 12.0% | |
| 🇵🇱Poland | 15% | 12.0% | |
| 🇱🇺Luxembourg | 15% | 12.0% | |
| 🇦🇺Australia | 15% | 12.0% | |
| 🇨🇦Canada | 15% | 12.0% | |
| 🇸🇬Singapore | 15% | 12.0% | |
| 🇯🇵Japan | 15% | 12.0% |
Which form do you file?
To reclaim Denmark withholding tax on Novo Nordisk dividends, you file Form 04.012 with the Skattestyrelsen (SKAT) (deadline: 5 years). See the full Denmark reclaim guide.
Frequently asked questions
How much withholding tax is deducted from Novo Nordisk dividends?
Denmark withholds 27.0% at source on Novo Nordisk (NOVO-B) dividends paid to non-resident investors.
How much Novo Nordisk withholding tax can I reclaim?
If you live in a country with a Denmark tax treaty, you can usually reclaim down to a 15% treaty rate — about 12.0 percentage points of each dividend. Your exact figure depends on your country of residence (see the table above).
Which form do I file to reclaim Novo Nordisk withholding tax?
Form 04.012 — filed with the Skattestyrelsen (SKAT). The deadline is 5 years.
What is the ISIN for Novo Nordisk?
Novo Nordisk trades under ticker NOVO-B with ISIN DK0062498333, listed in Denmark.
Own Novo Nordisk? Calculate your reclaim
Tax Reclaim works out exactly how much Denmark withholding tax you can recover and generates the filing-ready form.
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