Denmark Tax Collector to Check information on Bitcoin Traders

Denmark Tax Collector to Check information on Bitcoin Traders

Danish traders will have tax collectors under their shoulders from now on as the Denmark Tax Agency got the authorisation to obtain information on cryptocurrency traders according to a press release published by the Skattestyrelsen.

The Tax Council in Denmark gave the green light to the Tax Agency to obtain information on cryptocurrencies trading from three Danish crypto exchanges in the period from 2016 to 2018. “This is the first time that the Tax Authority has access to this information,” the announcement says.

Three unnamed Danish crypto exchanges are now forced to provide information on all purchases and sales of cryptocurrencies from January 1st 2016 to December 31st 2018.

“The application also includes identification information such as names, addresses, CPR numbers and possibly CVR information.”

The decision was taken following a communication from the Finnish tax authorities regarding Danish citizen’s trades in Finland.

As a matter of context, the agency reported in 2018 that 2,700 Danish citizens moved over 100 million Danish Krone between 2015 and 2017 on a Finish bitcoin stock exchange. Also, the National Tax Board affirmed that “up to 450,000 citizens are considering shopping with cryptocurrency,” in Denmark. “But only half believe in knowing the tax rules in the area.”

As said in the press release, “with the permission of the Danish Tax Council, we will for the first time gain access to the trades made via the Danish stock exchanges. This gives us completely new opportunities with control in the area,” says personal tax director Karin Bergen.

The Danish Tax Authority will follow local citizens and companies’ transactions but also foreign investors that made trades in Denmark. “Once the information is received, the Tax Agency will ensure that citizens who have traded with cryptocurrency have paid the right tax.”

The release highlights that “information on transactions made by foreign citizens and companies in which the National Tax Board holds possession will be exchanged with the respective countries’ authorities.”

So, be aware if you are a Danish trader on crypto assets, the tax collector is coming for you; but also if you are a foreign one.

Register for Latest Updates & News

We respect your email privacy

Subscribe now to recieve exclusive updates and offers!

Recently Similar News

Latest Guides

Latest News

1xBit Guide: Crypto Sportsbook & Casino

The casino and sportsbook industry continues to witness an increase in the number of platforms within the space. This creates a challenge of identifying the best and most reliable sportsbooks that will offer you the most impressive services. In this guide, 1xBit shall be reviewed in terms of its service offerings and unique features that […]

11 January, 2022

XBE Community Launches a $500k Bug Bounty

Decentralized technology is built to attract the smartest and brightest brains from all over the world to work towards a common goal: free and fair financial systems. Despite the uncertainties surrounding future laws, DeFi protocols are rapidly adapting and growing to provide new ways for individuals to obtain more value from their money. And this […]

28 December, 2021

11 Biggest Sponsorships Deals for the Crypto Market in 2022

The global sports industry is looking to revamp its activities and recover from the after-shocks of the COVID-19 pandemic. Cryptocurrency platforms on the other hand have enjoyed immense growth and are searching for big platforms that can provide better brand visibility. That’s where sports and crypto make a perfect match with many global sports organizations […]

1 December, 2021

ChangeNOW Unveils a New Cashback Feature

ChangeNow offers crypto users smooth exchanges and doesn’t stop there. The exchange platform provides registered users a chance to profit from crypto swaps with cashback in NOW tokens through the ChangeNOW website. The cryptocurrency exchange and processing platform offer you an effortless way to turn your traffic into profit and boost your crypto journey. The […]

15 November, 2021

Celsius Casino is Raising the Temperatures with a Voluminous Game Lobby

Celsius Casino has become a go-to gaming destination for casino fans looking for an action-packed online gaming platform. The online casino boasts a robust game catalogue with over 4,000 games. The extensive game portfolio caters to Slots, Table Games, and Live Casino fanatics and is powered by well-known providers such as Evolution Gaming, NetEnt, and […]

9 November, 2021

ChangeNOW Has Announced the Release of its Own Digital Wallet

Limitless and swift crypto exchange platform ChangeNOW has released its own non-custodial NOW Wallet, facilitating fiat to crypto purchases and reliable crypto transactions from the comfort of a mobile phone. NOW Wallet is available in beta version for both iOS and Android devices and allows users to transact with over 20,000 currency pairs, regardless of […]

29 October, 2021
BitPanda,Bonus,token

BitPanda Enhances Its BEST Rewards Programme

The EU-based cryptocurrency exchange, BitPanda, has improved its loyalty programme, BEST Rewards. It is now providing owners of its BitPanda EcoSystem Token (BEST) an additional 12% in potential revenue each year. Every registered BitPanda user who has BEST in his or her wallet and carries out at least one monthly trade will be eligible for […]

25 October, 2021
ChangeNOW,Decentralised,Fraud

ChangeNOW’s AML Action Lead To The Return Of $15M COMP

Earlier this week, ChangeNOW announced that it was able to identify and return 45,505 COMP back to Compound. The estimated value of this recovery is around the $15m mark. This remarkable achievement is further proof of the effectiveness of the exchange’s Anti-Money Laundering (AML) procedures. In an announcement made on ChangeNOW’s website, the company provided […]

6 October, 2021