{"id":44057,"date":"2021-06-09T16:52:12","date_gmt":"2021-06-09T13:52:12","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=44057"},"modified":"2025-08-31T15:15:07","modified_gmt":"2025-08-31T12:15:07","slug":"denmark-to-amend-its-1922-tax-code-to-reflect-cryptocurrency-activity","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/denmark-to-amend-its-1922-tax-code-to-reflect-cryptocurrency-activity\/","title":{"rendered":"Denmark to amend its 1922 tax code to reflect cryptocurrency activity"},"content":{"rendered":"<p>Denmark will amend the tax code to properly reflect residents&#8217; operations with cryptocurrencies. This was warned by the head of the country&#8217;s tax authority, Morten B\u00f8dskov (Morten B\u00f8dskov), writes <a href=\"https:\/\/www.berlingske.dk\/oekonomi\/skatteminister-risiko-for-skattesvindel-med-kryptovaluta-kalder-paa\">Berlingske Tidende<\/a>.<\/p>\n<p>Current rules lead to errors in calculating the tax base and to risks of tax fraud.<\/p>\n<p>At present, the calculation of liabilities to the state from trading digital assets is based on the State Tax Act, enacted in 1922.<\/p>\n<p>The agency identified around 16 000 individuals and companies that conducted cryptocurrency transactions between 2015 and 2019. Two-thirds of them reported information incorrectly on their tax returns.<\/p>\n<p>The amendments will be developed by the Council on Tax Law, which has independent status. By 2023 the body will present a draft of the required changes.<\/p>\n<p>The Council expressed concerns about potential concealment of income from cryptocurrency transactions. Under local law, providers of crypto services currently have no obligation to report to the regulator.<\/p>\n<p>As reported, the Australian Taxation Office <a href=\"https:\/\/forklog.com\/en\/news\/australian-authorities-to-require-crypto-investors-to-pay-additional-taxes\">identified<\/a> cases of underreporting of income from trading digital assets among 100 000 taxpayers.<\/p>\n<p>Subscribe to ForkLog&#8217;s channel on <a href=\"https:\/\/www.youtube.com\/channel\/UCC9FnXTC8_ENzaNSO5cHQ6g\" target=\"_blank\" rel=\"nofollow noopener\"> YouTube<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Denmark will amend the tax code to properly reflect residents&#8217; cryptocurrency operations. This was warned by the head of the country&#8217;s tax authority, Morten B\u00f8dskov (Morten B\u00f8dskov), writes Berlingske Tidende.<\/p>\n","protected":false},"author":1,"featured_media":44058,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1703,36,558],"class_list":["post-44057","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-denmark","tag-regulation","tag-taxes"],"aioseo_notices":[],"amp_enabled":true,"views":"25","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/44057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=44057"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/44057\/revisions"}],"predecessor-version":[{"id":44059,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/44057\/revisions\/44059"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/44058"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=44057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=44057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=44057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}