# Tax in Denmark



## Nomoss (Nov 25, 2016)

I have been told by my son, who lived there, by his ex wife, and by a lawyer in Copenhagen, that residents in Denmark are taxed around 40% on any money which they have in foreign banks.
Can this possibly be true?

I know that residents in France who have foreign accounts must declare these every year on their tax return, and that there are harsh penalties for not declaring them.
The penalties are €1500 per account per year of non-declaration, and 60% of the amount in any account where the origin of the funds can not be proved.

Maybe undeclared assets are treated in a similar way in Denmark, and this has been confused with there being a tax?


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