If a person liable to taxation fails to provide the bank with information on the values under Section 15(7) of PAL and Section 16(3) of PAL in due time, the bank must inform SKAT, when submitting the statement under Section 22 of PAL, that no information has been received on the above-mentioned values.

SKAT then sends a letter to the person liable to taxation stating that the information on the values under Section 15(7) of PAL and Section 16(3) of PAL has not been submitted to the bank in due time. SKAT informs the bank about this.

The person liable to taxation must, within one month of the date of the letter at the latest, submit information to the bank on the values under Section 15(7) of PAL and Section 16(3) of PAL.

If the person liable to taxation fails to submit the information within the one-month deadline, the amount under the plan which is attributable to the equity investments in the unlisted company and which could have been disbursed on the termination of the plan becomes subject to a 60 per cent tax. See Section 30 B(2) of PBL.