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(Dec 11, 2012)
In the past, workers have been unsure about what constituted just helping out a friend or family member and what was earning taxable income. Skat notes that in theory work done for friends does not need to be reported, so long as there is no "significant economic benefit," and no money is exchanged. Bo Sandmann Rasmussen, an economics professor at the
Thor Möger Pedersen, the Minister of Taxation, last year said that Skat will hold customers who hire workers on the black market and the people providing such services responsible for cheating the tax system. The Skat suggested that cash payments be limited to 10,000 kroner. While higher cash payments are still legal, keeping to the 10,000 kroner amount will ensure that parties to the transaction will not be charged with major tax evasions. (Jennifer Buley, Crackdown on Cash-In-Hand Customers, THE COPENHAGEN POST (Nov. 22, 2011).)
|Author:||Constance Johnson More by this author|
|Topic:||Taxation More on this topic|
|Jurisdiction:||Denmark More about this jurisdiction|
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Last updated: 12/11/2012