Denmark Pays $900,000 for Panama Papers to go after Tax Evasion
Denmark has received information on their citizens from the Panama Papers after paying around $900,000 to anonymous source. The purchase of information would help the tax authority hunt for people who evade tax.
“Estimates showed that fraud, coupled with mismanagement at the Tax Authority could cost Denmark as much as $ 4 billion in lost revenue.”
Estimates showed that fraud, coupled with mismanagement at the Tax Authority could cost Denmark as much as $ 4 billion in lost revenue. The next procedure is to identify it the government can raise claims to collect missing tax payments from the citizens.
Related Reports: Bloomberg
About The Danish Ministry of Taxation
Since 1975 Denmark has had an independent Ministry of Taxation and since 1990 a combined administration of customs, direct taxation, Value Added Tax (VAT), and other forms of indirect taxation, named the Central Customs and Tax Administration.
The Danish Ministry of Taxation consists of The Department responsible for legislation and tax policy, the Tax Appeals Agency responsible for appeals, The Danish Gambling Authority responsible for securing a proper and regulated gambling market in Denmark and the Central Customs and Tax Administration (SKAT) responsible for administration and collection of direct taxation, VAT, and other forms of indirect taxation and customs procedures.
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