Tax sting to turbine site buyers and sellers

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The first 55 buyers and sellers of wind turbine sites on the island of Lolland-Falster have been hit with a bill for DKK 18.3 million (EUR 2.5 million) in unpaid taxes-that's DKK 333,000 per head, writes the Danish newspaper Lolland-Falsters Folketidende. State tax authorities, with co-operation from the regional governments of the area around Lolland-Falster, audited 66 tax returns connected to the sale of wind turbine sites. In only 11 cases were the business deals found legal-16 cases are under further investigation. More than half the offenders were farmers who declared income from the sale of turbine sites as "compensation for inconvenience," which is tax free. Danish tax authorities call the deal "property improvement," which is tax liable. In the other cases, following the recommendation of wind turbine salesmen, site buyers recorded their purchase as a capital gains allowance-a 50% write off-which authorities bluntly turned down. In one other case, the tax man brought action against three family members who wrote off a DKK 1 million deal among them as a "gift."

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