Following adoption by the Danish Parliament on 8 May 2012, a
Danish tax amnesty scheme is now
open up to and including 30 June 2013.
In summary, the scheme offers Danish taxpayers - individual and
corporate - with undisclosed funds in foreign banks, etc. the
possibility of voluntarily declaring such income and assets to the
Danish Tax Authority at a reduced penalty and without risk of
prison sentence.
Irrespective of the amount of taxes evaded, the scheme provides
for a maximum fine of no more than 60% of the Danish taxes payable
on the undisclosed income, etc. Outside of the amnesty scheme, tax
evasion would, depending on the amounts concerned, etc., be subject
to either a fine in an amount of twice the taxes payable or prison
for up to eight years. Tax evasion exceeding DKK 500,000 normally
results in imprisonment.
