1989 - 1999

Stricter legislation
Sales of partnership shares ended as abruptly as they had started. Tax legislation gradually became stricter in the 1980s. First, the option of using investment funds to pay for shares was abolished and in May 1989, the Private Companies Act was further restricted. The Minister of Industry then had to grant prior approval for projects if investors were to have the option of deducting a deficit in the company from their taxable income. This meant in reality that partnership projects were restricted to Danish new builds. 1993 saw the end of the right of investors to deduct company deficits from their taxable income. For tax purposes, depreciation was limited to the share of the annual profit, which considerably restricted the possibility to offer partnership shares.