Rampant tax evasion hit Denmark as Dkr123 billion vamoosed to tax havens

Saturday, 06 July 2013
Tax evasion from Denmark has more than quadrupled in seven years. Evidence of this according to Danish authorities is that Denmark lost tax revenue for the equivalent of over Dkr120 billion.

The money is said to have ended up in tax havens abroad. The challenge comes from statistics for 2011 showing Denmark's balance of payments.

"And there is no reason to believe that tax evasion was less last year," says Professor Pascalis Raimondo-Moller at Copenhagen Business School to the Danish daily, Berlingske Tidende.

It should be recalled that Denmark has some of the highest individual taxes on earth and if one is to follow the principles of taxation, in the economic sense, the higher the taxes, the lower the will to pay. But if these companies and individuals use Denmark PLC to make their money they are obliged to respect the rules of the country that made them wealthy.
by Scancomark.com Team

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