Denmark missing out on tax haven billions

New report: Danish tax authority loses out on 5 billion kroner annually

The Danish tax authority is adamant it will uncover the tax cheats revealed by tax haven leaks such as the ‘Panama Papers’ and ‘Paradise Papers’.

And there’s a pretty good reason for that. We are talking about a considerable amount of money – in fact a new report suggests that Denmark misses out on 5 billion kroner per year from money being sent to tax havens.

“We see some clear patterns in which some tax havens stand out because they have some absolutely massive transactions in the form of services that are really difficult for the tax authorities to monitor,” Ludvig Wier, a UN consultant in international taxation with a PhD in economics who is the co-author of the report, told TV2 News.

“Our great fear is that we are actually underestimating this.”

READ MORE: Danish connection unearthed in latest tax haven leak

EU are the biggest loser!
The report estimates that multinational companies shift about 5 trillion kroner to tax havens globally, resulting in a taxation loss of 1.5 trillion kroner annually.

The new report, which has been produced by the University of Copenhagen in co-operation with the University of California – Berkeley, is expected to be published sometime in the next month.

According to the report, the EU is the biggest loser in terms of lost tax revenue – particularly due to Ireland, Luxembourg and the Netherlands being significant tax havens for multinational corporations. The authors of the report argue for much more simplified rules for international taxation.

“If you sell 5 percent of your goods in Denmark, then Denmark should get 5 percent of the tax revenue. That would be a simple system that everyone can comprehend and it would make a lot more sense,” said Wier.




Connect Club is your gateway to a vibrant programme of events and an international community in Denmark.


  • Inside Denmark’s innovation engine

    Inside Denmark’s innovation engine

    With half of its staff being international, the BioInnovation Institute reflects Denmark’s broader transformation into a global innovation hub. But can the country—and Europe—keep up the pace? “If reforms are made now, we can close the gap in ten years,” explains BII’s CEO

  • Internationals’ labour contributes 361 billion DKK to Denmark’s GDP, and it is growing strongly every year

    Internationals’ labour contributes 361 billion DKK to Denmark’s GDP, and it is growing strongly every year

    According to a report by the Danish Chamber of Commerce, internationals’ contribution is 12% of the country’s GDP. In 2023, it was 322 billion DKK, and in 2008, it was 136 billion DKK. “Internationals make a gigantic difference in our prosperity and welfare,” comments Morten Langager, the Director of Dansk Erhverv.

  • International designers struggle to find jobs in Denmark

    International designers struggle to find jobs in Denmark

    Many internationals come to Denmark to work as designers, but the field appears to be one of the hardest to break into. The Copenhagen Post spoke with two internationals struggling to find their way into the industry.