Denmark taxes return on savings on pension schemes regardless of whether the funds are deposited in individual accounts with banks and credit institutions or in the case of savings in life insurance companies and pension funds.
The rules are contained in the Act on taxation of return on pension funds (”Pensionsafkastbeskatningsloven”).
The current rules are a result of a comprehensive reform in 2007. The reform implemented a two-tier taxation of pension funds and life insurance companies, which introduced a new type of tax subjects, namely individuals in Denmark or the EU, which have established retirement pensions, etc. in pension funds and life insurance companies.
The law is complicated and give rise to a number of technical uncertainties for banks, pension funds and life insurance companies.
Partner Kjeld Bergenfelt of CORIT Advisory P/S has co-authored a book in the form of a commentary on the topic which will be published by Karnov Group during the spring of 2013. The book examines in detail a number of problem areas that typically cause the users difficulties and will serve as a practical tool for anyone interested in how the returns from pension schemes are taxed.
CORIT Advisory proudly welcomes Karsten Gianelli as a new Senior Counsel as of 1 April 2013.
Karsten has obtained extensive experience working as a lawyer, tax consultant and tax official for more than 30 years and is widely considered a capacity within a number of important and complex areas of tax law. His areas of expertise include group taxation, group structuring and re-structuring, taxation of financial assets, tax litigation and estate tax. Karsten will continue his activities within these areas.
Moreover, Karsten has been lecturing on tax law for numerous years and has authored a number of articles and books on the above topics.
We consider the advent of Karsten Gianelli to be a perfect match and foresee great results from our cooperation
About CORIT Advisory P/S
CORIT Advisory is a highly specialized and fully independent tax boutique firm, offering tax consulting services within a range of complex areas of tax law. Our primary task is to assist businesses in identifying, addressing and mitigating tax risk in a rapidly changing environment.
Our ambition is to be recognized as a leading knowledge provider and business partner within the international tax consulting industry. Technical competences are highly prioritized.
We offer a unique combination of practical and applicable tax advisory services with the knowledge and insight of academia. This unique mix is the very core of CORIT Advisory and is the common denominator of the people behind the firm.