Danish Tax Office Sends Warning Letters to Crypto Users
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Dec. 11, 2019
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Skattestyrelsen (Skat), the agency responsible for taxes in Denmark, is sending a series of warning letters to crypto owners asking them to report on their crypto-related transactions, Koinly reports.

According to several sources, the agency has asked crypto owners to provide detailed information about all their profits and losses related to digital assets between fiscal years 2016 and 2018.

The agency has reportedly asked users to update their past returns in order to pay the corresponding taxes for all crypto-related activities. In addition, it has warned it will impose fines on users who do not comply with the requirement.

The agency has requested information for the rates used for each transaction, the reason why they decided to acquire cryptos as well as documentation regarding the creation of crypto wallets.

Earlier this year the agency received permission to obtain data about Danish users from three crypto exchanges and gathered information from 20,000 users.

On top of that, Skattestyrelsen also plans to check the bank statements of crypto users during the above-mentioned period.

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