Up to 315 million kroner could be recovered by the Danish state in cases resulting from the Panama Papers, documents leaked in 2016 detailing financial and attorney–client information for more than 200,000 offshore entities.
A press statement released by the Danish Ministry for Taxation said that Tax Agency (Skattestyrelsen) work based on the information dump could result in over 300 million kroner being recovered by the state.
Minister of Taxation Karsten Lauritzen praised the decision by parliament in 2016 to purchase documents from the leaked Panama Papers, which enabled the Tax Agency work.
In September 2016, Danish tax authorities purchased a large data dump from an anonymous seller for 6.4 million kroner, according to information released by the ministry.
The Tax Agency has since issued 155 tax notices relating to 78 individuals and 60 companies.
That assisted Danish authorities in identifying persons or entities that hid taxable sums of money from the Scandinavian country through tax havens.
The papers cost 6.4 million kroner to access but could potentially help to recover 315 million kroner, the ministry wrote in its press statement on Wednesday.
“Although it was, at the time, a difficult decision to purchase the papers, it has since proved that there was plenty to be gained. And the Tax Agency has prioritised the work hugely. We are now seeing the results,” Lauritzen said in the statement.