Law Amending The Pension Yield Tax Law, Pension Taxation Law And Various Other Laws (Extension Of Installment Payment, Adjustment Of Pension Schemes Under The Rules For Pension Plans With Periodic Payments And Requirements For Location Of Midle

Original Language Title: Lov om ændring af pensionsafkastbeskatningsloven, pensionsbeskatningsloven og forskellige andre love(Forlængelse af ratepensionsordninger under udbetaling, justering af reglerne for pensionsordninger med løbende udbetalinger og krav til placering af midle

Subscribe to a Global-Regulation Premium Membership Today!

Key Benefits:

Subscribe Now for only USD$20 per month, or Get a Day Pass for only USD$4.99.
Law amending the pension yield tax law, pension taxation law and various other laws

(Extension of pension schemes during the payout rate, adjusting the rules for pension plans with periodic payments and requirements for the placement of funds in approved foreign pension schemes, etc.)

WE, MARGRETHE the SECOND, by the grace of God Queen of Denmark, do indeed:

The Danish Parliament has adopted and we know Our consent confirmed the following law:

§ 1

In the pension return tax law, law No. 1535 by 19. December 2007, as amended, inter alia, by § 1 of lov nr. 1339 of 19. December 2008, § 1 lov nr. 1278 of 16. December 2009 and section 4 of Act No. 1263 of 16. December 2009 and at the latest upon section 8 of Act No. 724 of 25. June 2010, is amended as follows: 1. In article 1, paragraph 1, shall be inserted after ' tax treaty ': ' without prejudice to article. However, section 23 (a) (3) '.

2. In article 1, paragraph 1, no. 1, point (e) shall be replaced by ' and ' to: ', '.

3. In article 1, paragraph 1, no. 1, point (f) shall be replaced by '. ' to: ' and '.

4. In section 1, paragraph 1, no. 1, point (g) is added: ' (g)) schemes in the institution of 1925 for private exam schools, etc., the Pension Fund of 1951 for Danish schools in Southern Schleswig, early retirement pension fund for teachers in fresh Sun and after school and institution of the 1950s for various private, ecclesiastical institutions. '

5. In article 1, paragraph 2, be inserted as nr. 14: ' 14) the institution of 1925 for private exam schools, etc., the Pension Fund of 1951 for Danish schools in Southern Schleswig, early retirement pension fund for teachers in fresh Sun and after school and institution of the 1950s for various private, ecclesiastical institutions. '

6. section 4 (1) is replaced by the following:

» Life insurance companies, pension funds and pension funds schemes covered by article 1, paragraph 1, no. 1, may choose to count the taxpayer returns as the difference between the value of the insurance depot at the end of the year income-adjusted in accordance with paragraph 3 and the value of the insurance depot at the beginning of the year income-adjusted in accordance with paragraph 4. The election is binding and taken for taxation according to this law, without prejudice. However, section 31, paragraph 3. Except for transfers to the depot, which has been included to the taxable amount in accordance with paragraph 5. '

7. section 4, paragraph 3, nr. 5, shall be replaced by the following: ' 5) the depot can be reduced by this year's positive risk-and cost-bonus, which is attributed to the depot. The reduction in this year's positive cost-bonus can only be effected in so far as this year's positive cost-bonus is less than the cost of the year prizes at the 1. order minus the actual cost of the insurance, or it can be demonstrated that the accrued interest cost attributable to the previous year's bonus accrued cost profit in either equity or the unallocated bonus reserves. The reduction in this year's positive risk bonus can only be effected in so far as this year's positive risk bonus is less than this year's risk premiums on 1. order minus the actual risk expenditure for group insurance or it can be demonstrated that the attributed risk bonus can be attributed to earlier years of accrued profits in either equity or risk the future bonus reserves. '

8. In section 4, paragraph 3, nr. 11, the words ' for insurance without right to interest bonus '.

9. In section 4, paragraph 3, the following is inserted as a no. 12: ' 12) payment of deductible rate protection Depot. '

10. § 4, paragraph 10, shall be repealed.

11. In paragraph 4 (a) (1), (2). paragraph shall be added after ' this Act ': ' without prejudice to article. However, section 31, paragraph 3 '.

12. paragraph 4 (a), paragraph 2, no. 1, 1. paragraph is replaced by the following:

» Interest rate pursuant to the insurance contract and the interest rate bonus, attributed to the depot were deducted from the payment of guarantees for insurance without right to interest bonus. '

13. paragraph 4 (a), paragraph 2, no. 1, 1. paragraph is replaced by the following:

» Interest rate pursuant to the insurance contract and the interest rate bonus, attributed to the depot were deducted from the payment of guarantees and payment of price protection. '

14. In paragraph 4 (a), paragraph 2, no. 1, 2. paragraph, the words ', payment of guarantees for insurance without right to interest bonus '.

15. section 4 (a), (5), 4. paragraph, shall be repealed, and replaced by:

» A positive cost results for a prior year may be attributed to this year's negative cost result. It is a condition of the set-off after 4. point that the pension institution can demonstrate that the savings from either equity or the unallocated reserves used to set-off in a year of negative cost result derived from profits on cost results from the years preceding income year. '

16. paragraph 4 (a), (6) 4. paragraph, shall be repealed, and replaced by:

» A positive risk score for a prior year may be attributed to this year's negative risk score. It is a condition of the set-off after 4. point that the pension institution can demonstrate that the savings from either equity or the unallocated reserves used to set-off in a year of negative risk score, derived from profits at risk results from the years preceding income year. '

17. paragraph 4 (a), paragraph 11, should be repealed.

18. In article 6, paragraph 1, shall be replaced by ' article 1, paragraph 2, no. 3-6 and 9 ' to: ' section 1, paragraph 2, no. 3-6, 9 and 14 '.

19. In article 6, paragraphs 3, 5 and 7, shall be added after ' article 1, paragraph 2, no. 9 ': ' and 14 '.

20. In section 8, paragraph 1, shall be inserted after ' future appropriations ': ' and the interest rate and amount of the equity attributed to technical provisions, subject to article 20. (4) '.

21. section 8 (4), 2. paragraph, shall be repealed, and replaced by:

' The taxable amount after 1. paragraph conferred on interest and positive amounts from equity outside this year's risk and cost result, attributed to technical provisions that are not part of the unallocated funds, see. paragraph 2, or part of the insured deposits, see. § 4 (2) or section 4 a (2). 1, 2. point a negative risk-and cost-result for technical provisions conferred tax base after 2. paragraph a positive cost results for a prior year may be attributed to this year's negative cost result and a positive risk score for a prior year may be attributed to this year's negative risk score. It is a condition of the set-off after 4. point that the pension institution can demonstrate that the savings from either equity or the unallocated resources used to set-off in a year of negative cost result derived from profits on cost outcome for technical provisions from the years preceding the tax year, and that the savings from either equity or the unallocated resources used to set-off in a year of negative risk score, derived from profits at risk score for technical provisions from the years preceding income year. '

22. In section 8, paragraph 5, 2. paragraph shall be added after ' § § 4 or 4 a ': ' or (4), 3 point, '.

23. In article 8, paragraph 6, shall be inserted after ' future appropriations ': ' as well as interest rate and amount of the equity attributed to technical provisions, subject to article 20. (4) '.

24. In section 8 shall be inserted following paragraph 7: ' (7). Rate protection, which is deducted in determining the taxable amount in accordance with §§ 4 or 4A, however, always increases the taxable amount in accordance with paragraph 4. '

25. In section 21 (1), (2). paragraph shall be added after ' happening ': ' without prejudice to article. However, 4. -7. section ' 26. section 21 (1), 4. and 5. paragraph, shall be repealed, and replaced by:

» Insurance companies etc., see. However, section 22, no later than the 19. February, year after year choose to pay income tax for pension schemes covered by article 1, paragraph 1. For the insurance companies, etc. that choose to pay the tax, interest shall be calculated by the difference between the calculated final tax and the paid tax for the tax year from the 20. February the year after the tax year, and the payment is made. Amount of tax due plus interest accrued, shall be paid at the same time, calculated with the submission of the final statement. Excess tax amount with interest will be refunded. Interest rate after 2. and 5. point corresponds to the interest rate referred to in section 27, paragraph 5, of the year following the income year. Paid tax too late, the interest rate is calculated after 2. and 5. point, however, only up to and including the last timely indbetalingsdag. '

27. In article 22, paragraph 1 1. paragraph, shall be replaced by ' 15. January ': ' 22. January '.

28. section 22 (1), (3). paragraph, shall be repealed, and replaced by:

» Of the calculated final tax for the tax year calculated interest from the 8. January of the year following the income year to the 15. January of the year following the income year. Tax plus the calculated interest shall be paid at the same time with the submission of the inventory. Financial institution, etc. can choose to pay the interest on behalf of plan-holders and, subsequently, on the basis of criteria laid down in the individual financial institution, etc. choose to carry out an individual interest calculation and interest collection for the individual pension saving. The interest rate corresponds to the rate of interest referred to in section 27, paragraph 5, of the year following the income year. '

29. In article 23, paragraph 2, shall be replaced by ' 15. January ': ' 22. January '.

30. Article 23, paragraph 4, 3. paragraph, shall be repealed, and replaced by:


» If the transfer of the system causes the system switch statement method during the income year, prepare a statement of the taxable amount for the insurance change assessment principle, at the time of the transition to the new accounting method. Tax is calculated, withheld and paid as part of the tax in accordance with §§ 21 and 22. For taxation pursuant to section 4 shall be deemed to be the value of the insurance depot at the time of the transition to the new accounting method to be the value of the insurance depot at the beginning of the year, within the meaning of income. section 4, paragraph 1. For taxation pursuant to section 4 (a) ascertained the taxable returns under section 4 (a), as if the income year for the scheme is that part of the income year in which the scheme is calculated under section 4 (a). For taxation pursuant to section 3 is calculated the taxable returns under section 3 as if the income year for the scheme is that part of the income year in which the scheme is calculated under section 3. 1.-7. paragraph shall not apply when transferring between two insurance companies, etc., if the insurance company, etc., from which the transfer is made, has chosen to make the final statement in accordance with paragraph 1. '

31. Article 23, paragraph 4, 8. paragraphs, are hereby repealed.

32. In article 23 (a) shall be inserted after paragraph 2 as new paragraph: "(3). Allow to stand for a negative income tax, see. § 17, at the end of the income year in which the tax liability of the taxpayer referred to in § 1, paragraph 1, shall cease, without that there is talk about deaths, can be used to set-off the negative tax in the positive tax by any subsequent return in tax liability under section 1, paragraph 1. Repealed the pension scheme in the period after the termination of the tax liability under section 1, paragraph 1, without tax liability under section 1, paragraph 1, is genindtrådt, section 25 shall apply. '

Paragraph 3 becomes paragraph 4.

33. Article 25, paragraph 3 is replaced by the following: ' (3). Paragraphs 1 and 2 shall also apply to the termination of a pension scheme as referred to in article 23 (a), (3), 2. section ' 34. In section 31 shall be added as paragraph 3: ' (3). Tax Minister may lay down rules on the administrative aspects of the statement of the tax base, documentation requirements and access to redo the selection of accounting method under section 4 or § 4 a. Reversed the election of statement method under section 4 or section 4 (a) in the course of the tax year, the provisions of article 23, paragraph 4, 3. -6. paragraph, apply mutatis mutandis. '

35. Under section 36 shall be inserted: ' § 36 a. interest on the tax due in accordance with the law on the taxation of certain pension funds etc. (pension yield tax law) of the basic regulation. lovbekendtgørelse nr. 1075 by 5. November 2006, attributed to the payment year. '

§ 2

The law on the taxation of pensions, etc. (pension tax law) of the basic regulation. lovbekendtgørelse nr. 1246 by 15. October 2010, as amended by section 6 of the law No. 513 of 7. June 2006, shall be amended as follows: 1. In section 8 shall be inserted as paragraph 4: ' (4). By extension of the payment period or modification of the rules for each installment payments, after the payment is initiated, the program calculates the new rates with effect from the end of the next calendar year. '

2. In paragraph 11 (A) (1). 2, 2. paragraph, shall be replaced by ' 3. -8. paragraph ' to: ' 3.-9. point ' 3. In section 11 A, paragraph 2, no. 2, be inserted after ' the entire payout period ': ' or by an extension of the payment period or changed the payout process the remaining payment period '.

4. In paragraph 11 (A) shall be inserted after paragraph 3 as a new paragraph: "(4). By extension of the payment period, the modification of the rules for each installment payments or choice of new payout process, after the payment is initiated, the new rates are calculated with effect from the end of the next calendar year. '

Paragraphs 4 and 5 become paragraphs 5 and 6.

5. In article 12, paragraph 1, no. 1, insert after 6. item:

» By determining its stake at 25 percent shares, etc., shall be taken into account as the account holder owns outside of the pension scheme, and the share of profit taxation Act § 4 shall apply mutatis mutandis, taking stocks and shares, as the account holder or to the categories mentioned in the stock profit taxation Act § 4, paragraph 2, has owned, but not taken into account. '

6. In paragraph 15 (C) shall be inserted after paragraph 2 as new paragraph: "(3). It is also a condition for the approval referred to in paragraphs 1 and 2, the funds in pension schemes with ongoing disbursements, rate insurance and endowment insurance in pension and retirement schemes, corresponding thereto, cannot be placed in real estate with rights of use, discounts or power attached, shares etc. in companies in which the policyholder owns 25 percent or more of the shares, etc., shares, etc., that has as objective or as one of its aims to provide rights of use , discounts etc. in the company, or shares in a personally operated business owned by policyholders. In determining its stake of 25 per cent is taken into account, in addition to shares acquired for funds in the pension scheme, etc., etc., etc., as the policyholder owns shares also outside of the pension scheme, and the share of profit taxation Act § 4 shall apply mutatis mutandis, taking shares as the policyholder or to the categories mentioned in the stock profit taxation Act § 4, paragraph 2, has owned, but not taken into account. '

Paragraph 3-6 becomes paragraph 4-7.

7. In paragraph 15 (C) (3) and (4), 4. point, there will be (4) and (5), 4. paragraph, the words ' paragraph 1 or 2 ': ' paragraph 1, 2 or 3 '.

8. In paragraph 15 (C) (6) which becomes paragraph 7, the words ' paragraphs 1 and 2 ': ' paragraph 1-3 ', and ' paragraph 3 ' shall be replaced by ' paragraph 4 ';

9. Article 20, paragraph 4, shall be replaced by the following: ' (4). The share of withdrawals from pension schemes as referred to in paragraph 1, similar to deposits on the scheme, which the taxpayer under section 55, 1. paragraph, can prove that in determining the taxable income of the owner or the account holder has not been whole or partial deduction-or bortseelsesret for in this country or abroad, shall not be counted as taxable income. "

10. In section 30 (1), (2). paragraph shall be added after ' first withdrawal ' means ' without prejudice. However, 4. -6. item ' 11. In section 30, paragraph 1, insert after 3. item:

» After the first installment payment can extend the payment period the insured person respectively, the account holder and change the rules for each installment payments. In addition, the person to whom payment of the installment savings or installment insurance in the event of an account holder's death occurs to the insured person respectively, extend the payment period and change the rules for each installment payments. In addition, the account holder or the person to whom the installment savings in the event of an account holder's death shall be paid to, choose a different payout process, see. section 11 (A), paragraph 2. By operations as referred to in 4. -6. item can change in the originally selected term for each installment payments only occur in the form of the change to monthly or quarterly payment dates. '

12. In section 30, paragraph 1, shall be inserted after 4. point, there will be 8. item:

' That taxed at 60% by changing the conditions of payment of a pension scheme with periodic payments after the initial payment. The rules for individual payments of the pension scheme with periodic payments can be changed and the payout period for a discontinuing the annuity will be extended with effect from the end of the next calendar year. 7. paragraphs shall apply mutatis mutandis. '

13. In paragraph 30 (B), paragraph 1. paragraph shall be added after ' regulated market ' means ' or a multilateral trading facility '.

14. In paragraph 30 (B), paragraph 1, shall be inserted after 1. item:

» Account holder acquires the shares, etc. for free assets, shares, etc. to obtain the highest amount of either the amount that they were acquired to the pension institution, or the value at the time they are distributed from the pension scheme. By sale of the shares, etc. to a third party, see paragraph 7 apply mutatis mutandis. '

15. In paragraph 30 (B) is inserted as paragraph 5-8: ' paragraph 5. Make a policyholder investments in contravention of the conditions of approval under section 15 C, paragraph 3, must be insured within 3 months after placement to reduce its stake in the company, etc. for less than 25 per cent of the pension scheme and take real estate with rights of use, discounts or power attached, shares, etc., that has as objective or as one of its purposes to give rights, discounts etc. in the company, etc., and shares in a personally operated business owned by policyholders. Instead, for the selection of shares etc. in a company, etc., that has as objective or as one of its purposes to give rights, discounts etc. in the company, etc., can user privilege, etc. of the company, etc. is brought to an end.

(6). Acquires the insured person in accordance with paragraph 5 shares, etc. for free resources, they must obtain the highest amount of either the amount that they were acquired to the pension institution, or the value at the time they are distributed from the pension scheme. The insured person acquires immovable property with rights of use, discounts or power attached to free resources, should the real property acquired for the highest amount of either the amount at which the property was acquired for the pension institution, or the value at the time of the transfer.

(7). At the disposal of the assets to a third party in accordance with paragraph 5 of article 29, paragraph 1 shall apply mutatis mutandis to an amount that is calculated as the difference between the value of the asset that was used at the time when the pension scheme was placed in that asset and its value at the time the asset is taken from the pension scheme when the latter value is the lowest of the two values.


(8). If the time limit referred to in paragraph 5 are not complied with, the provisions of section 30, paragraph 1 shall apply mutatis mutandis to the amount of the pension scheme, which can be attributed to the investments in assets that do not meet the conditions laid down in paragraph 15 (C) (3) and which by the expiry of the deadline could be paid upon termination of the system. '

16. section 32, paragraph 1 is replaced by the following:

» The share of withdrawals from retirement plans, similar to deposits on the scheme, which the taxable after chapter 3 can prove that in the inventory of the owner's or account holder's taxable income has not been whole or partial deduction-or bortseelsesret for in this country or abroad, subject to not charge of. '

17. section 41 (1) (8). 3, is replaced by the following: ' 3) from a rate insurance in pension purposes, installment savings in pension purposes or a temporary annuity for another installment in the pension insurance purposes, installment savings in pension purposes or discontinuing the annuity, which is created after the Act's entry into force, in accordance with article 3. However, paragraph 8, unless only one of pension schemes within the scope of section 15 (A), or in the case of a transfer after the first withdrawal from one of the arrangements referred to in article 6. However, paragraph 10.0 ' 18. In paragraph 41, paragraph 8, shall be added as 4. and 5. item:

» By transfer of a rate insurance in pension purposes, an installment savings in pension purposes or a temporary annuity during the withdrawal to a lifetime annuity is calculated new annuities with effect from the end of the next calendar year. Up to that time maintained the previous udbetalingers terms and size. '

19. In article 41 paragraph 10 is added: ' (10). Transfer in accordance with paragraph 1, nr. 3, from a rate of pension insurance purposes, an installment savings in pension purposes or a temporary annuity under payment can happen for another installment in the pension insurance purposes, installment savings in pension purposes or discontinuing the annuity, under payment, provided that the last payment from the scheme to which the transfer is made, agreed that was going to happen at the earliest in the calendar year in which the last payment from the licensed regime would have happened. Transfer as mentioned in 1. point of a system, there is no payment, can happen to another system, which is under payment, provided that the last payment from the scheme to which the transfer is made, agreed that was going to happen at the earliest in the calendar year in which the last payment from the licensed regime would might have happened. By transfer as mentioned in 1. and 2. item can not be agreed final payment to an earlier point in time than the time when the last payment from the scheme to which the transfer is made, otherwise it was agreed that should happen. The new installments or annuity shall be calculated with effect from the end of the next calendar year. By transfer as mentioned in 1. point can the deadlines for individual payments, originally selected in the licensed regime, only changes to monthly or quarterly payment dates. By transfer to an installment savings in pension purposes, see section 11 A, paragraph 2, apply mutatis mutandis. Forward to the next calendar year maintained the previous udbetalingers terms and size. '

20. section 49 (1), (2). paragraph is replaced by the following:

' Any person who is subject to tax in accordance with section 2 of the Act, see withholding tax. However, withholding tax law § § 5A-5 D, can only achieve deduction after 1. point in income subject to withholding tax Act § 2 (1) (8). 1 or 4, or in unemployment benefit, sickness benefit and maternity benefit subject to withholding tax Act § 2 (1) (8). 12, and only to the extent that the expense after foreign rules cannot be deducted on taxes abroad. '

21. paragraph 53 (A) (5) 1. paragraph is replaced by the following:

» Payments from pension schemes, etc., as referred to in paragraph 1 to the persons referred to in section 55, 1. paragraph, and which correspond to deposits on the scheme, which is in the inventory of the owner's taxable income has been wholly or partially deduct-or bortseelsesret for in this country or abroad, shall be taken into account for the taxable income. '

22. In paragraph 55, 1. paragraph, shall be replaced by ' paragraphs 2 and 3 ': ' paragraph 2, 3 and 5 '.

§ 3

The law on the tax treatment of gains and losses from the sale of shares, etc. (stock profit tax law) of the basic regulation. lovbekendtgørelse nr. 89 of 25. January 2010, as amended by section 3 of Act No. 724 of 25. June 2010, is amended as follows: 1. In article 32, paragraph 2, the following is inserted as a 3. item:

» Is there an amount paid after retirement tax Act section 30 (B), paragraphs 1 and 6, however, this is used as the acquisition. '

2. In section 32 the following paragraph 3 is added: ' (3). Paragraphs 1 and 2 shall apply mutatis mutandis to deposits in and distribution of shares from pension schemes approved under the pension taxation Act section 12, paragraph 1, and paragraph 15 (C). '

§ 4

Of the law on the tax treatment of gains and losses on receivables, debt and financial contracts (kursgevinstloven), see. lovbekendtgørelse nr. 1002 of 26. October 2009, as amended by section 1 of Act No. 724 of 25. June 2010, is amended as follows: 1. In section 35 is inserted 5. item:

' 1.-4. paragraph shall apply mutatis mutandis to deposits in and distribution of debts and contracts in pension schemes approved under the pension taxation Act section 12, paragraph 1, and paragraph 15 (C). '

§ 5

The law on taxation of members of custodian trusts, see. lovbekendtgørelse nr. 471 of 23. May 2006, as amended most recently by § 10 of lov nr. 525 of 12. June 2009, is amended as follows: 1. In article 16 the following paragraph 3 is added: ' (3). Paragraphs 1 and 2 shall apply mutatis mutandis to deposits in and the distribution of shares in a mutual fund custodian of retirement schemes approved under the pension taxation Act section 12, paragraph 1, and paragraph 15 (C). '

§ 6

In Act No. 625 of 11. June 2010 amending the pension taxation law. (Removal of the right to deduct for new deposits to a capital pension after payment of a capital pension, except for index systems from the ceiling on 100,000 KR. for tax-deductible deposits, etc.) is amended as follows: 1. Article 2, paragraph 4, shall be replaced by the following: ' (4). § 1, nr. 8-10, has effect for payments, happens the 1. January 2010 or later. '

§ 7 paragraph 1. The law shall enter into force on the day after publication in the Official Gazette referred to in article 6. However, paragraph 2.

(2). § 1, nr. 11 and 31, shall enter into force on the 1. January 2011.

(3). § 1, nr. 2-5, 12, 14, 18-23 and 25-29, have effect as from the income year 2010.

(4). § 1, nr. 1, 6-11, 13, 15-17, 24, 30 and 32-35, and § 2, nr. 20, have effect as from the income year 2011.

(5). § 1, nr. 31, shall take effect as from 1 January 2002. July 2011.

(6). § 2, nr. 1, 3, 4 and 10-12, has effect for extensions of the payment period and payment process for rate changes to pensions and changes in payment terms for temporary annuities under payment happens on 1. January 2011 or later.

(7). § 2, nr. 2, 5-8 and 15, and §§ 3-5 has effect for the approvals after entry into force of the Act and for the submission of statements after pension taxation Act § 15 C (1). 3, after the entry into force of the Act.

(8). § 2, nr. 9 and 16, have effect for payments, happens the 1. January 2008 or later.

(9). § 2, nr. 17-19, has effect for transfers that occur from and with the 1. January 2011.

Paragraph 10. § 2, nr. 21, has effect for payments, happens the 1. January 2011 or later.

Paragraph 11. For pension plans with periodic payouts, discontinuing the annuities, rate insurance in pension purposes, capital insurance in pension or a pension scheme, which is similar to this, created in a life assurance undertaking, which prior to the entry into force of the Act, see. section 7, paragraph 1, approved in accordance with the pension taxation Act § 15 C, paragraph 2, in accordance with the Act's entry into force, in accordance with article 3. section 7, paragraph 1, do not be placing in shares etc. in companies, whereby the insured obtains to own 25 per cent or more of the shares, etc., in shares, etc., that has as objective to give rights, discounts etc. in the company, or in real estate with rights of use, discounts or power attached. Pension taxation Act § 15 C (3), 2. paragraph shall apply mutatis mutandis.

Given at Christiansborg Palace, on 21 April. December 2010 Under Our Royal hand and Seal MARGRETHE r./Troels Lund Poulsen

Related Laws