In a statement released earlier this week, Denmark's Economic Ministry announced tax reform proposals which would 'ease the pressure on the financial market and give (pension insurance) companies a better basis for making long-term decisions.' The move follows the tremendous loss recently experienced by the country's largest pension insurer, PFA Pension, of DKK 18.2 billion in the Danish stock market decline.
The corporate tax code will be changed to allow pension companies to utilise tax deductions for losses on investments in the same year that the loss is realised instead of having to carry the tax relief into the following year as is presently the case.
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