Last Updated on June 11, 2021 by Jason
The Danish ministry of tax is going to look into revamping its tax code which is almost 100 years old, in an attempt to look at challenges that have arisen as a result of crypto investments.
The Ministry of Taxation has discovered that two-thirds of crypto transactions that occurred locally haven’t been taxed correctly, and is hoping to close the gap on this.
The biggest reasons for this crackdown is an increased risk of fraud, as well as an increasing number of tax filing errors. Denmark will highlight specific issues to tax authorities, and then figure out which tax challenges need to be adjusted.
Morten Bodskov, tax minister for the country, said that the overall goal is to stay ‘vigilant and ensure that our rules are up-to-date and limit errors and fraud.’