Value of off-shore companies reaches record

September 27th, 2013

This article is more than 10 years old.

The value of Danish firms owned by companies officially based in tax havens has reached a record 275 billion kroner.

The amount has increased four-fold since 2008, when Centralbanken, the national bank, began keeping records.

Most of the companies, which include commonly known firms such as Georg Jensen and BornholmerFærgen, said moving their official address to tax havens was not a matter of trying to pay less in taxes.

One of the stated reasons for moving to tax-haven countries like Bermuda and the Bahamas was that they often do not require companies to disclose their corporate financial data, which forms see as giving them an advantage over competitors. 

Ugebrevet A4

SEE RELATED: Tax authority pursuing Microsoft for 5.8 billion kroner

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