Contributions to tax exempt pension schemes(Taxwatch (Tax news in english))
18-11-2009 10:50
Af
Anders Kiærskou
According to a special Danish pension scheme, payments are tax exempt but contributions on the other hand are not tax deductible. This pension scheme is often used by Danish expatriates, who are tax exempt in Denmark on their salary and hence cannot utilize the possibility to deduct contributions to a regular Danish pension scheme.
As of 1st January 2010, owners of these pension schemes must be able to demonstrate that no tax deductions have been obtained abroad when contributing to the pension scheme. If this cannot be demonstrated, pension payments from the scheme are taxable. Alternatively, termination of the pension scheme before the end of 2009 could be considered.
Questions concerning the above can be addressed to Anders Kiærskou, aek@bdo.dk
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