As of January 1, 2016, it will no longer be possible to have a secret account in one tax havens, like Denmark, together with many other countries – including Switzerland, Luxembourg, Liechtenstein, and Gibraltar – have signed an agreement on automatic exchange of bank data.
This means that if you have a deposit in a foreign bank or other financial institution per. January 1, 2016, the size of this deposit as well as a possibility. the Gain in the form of e.g. interest or dividend will automatically be reported to SKAT in 2017.
This, of course, is only problematic for those who either do not self-assess their growth on the foreign account or those who have not been properly taxed by the actual deposit on the foreign account.
The obligation to exchange also applies to corporate accounts. If this is an unidentified account or an account with a c / o address, they are reported separately, and this triggers an investigation with the Danish tax authorities.
The penalty for tax evasion depends partly on the evaded amount and partly on whether the evasion has been done negligently or intentionally. That you do not have the tax return on a foreign account will be intentional tax evasion. If no correct tax has been paid on the balance of the account, the tax evasion relating to this must be assessed separately.
The penalty will be either a fine or a combination of conditional/unconditional imprisonment and fine. The normal amount of tax evasion is the amount of money that has been evaded. In addition, the tax must be paid.
With the new agreements for automatic reporting of deposits on foreign accounts, it must be assumed that there is a considerably increased probability that SKAT will be aware of the persons and companies, etc. who do not have the tax return correctly. Therefore, it may be an idea to consider a self-notification and thereby legalize the deposit on the foreign account.
As a self-reviewer, you will get a “discount” on the penalty for tax evasion. The “discount” depends on the circumstances of the case – in particular, the amount of the evaded amount.
From July 1, 2012, to June 30, 2013, an amnesty scheme was introduced in Denmark, so that as a self-reported person, you waived for imprisonment and received a discount on the fine. However, this amnesty scheme has expired.
Since the starting point for tax evasion is often punishment, it may be worth examining whether part of the tax evasion is outdated. You operate both with a tax law and a criminal offense. The limitation period depends on the amount evaded and will be either 3, 5 or 10 years or a combination thereof.