The Danish Minister Of Tax has been given broad political support to acquire a part of the Panama Papers, which holds confirmed information about approx. 320 Danes (link). The tax authorities estimate that the papers will hold about 5 – 600 potential cases to investigate that relates to Danes.
This marks a historic change in the approach on how investigate potential fraud as the Danish position has always been not to acquire data other than through the official channels e.g. treaties with clauses of exchange of information.
Along with BEPS and the general development on data transparency and data trails, this marks yet another point to the argument of why it is crucial to maintain records of ones whereabouts and income treatment. As such compliance and tax policies are more important than ever.
We are following the development and should you have any queries, you are more than welcome to contact us (Click here to contact).