In general people in Denmark don't have a ton of money to invest after paying taxes. If they do invest in Danish companies, those companies are held back somewhat by rules and further taxes. Some years ago there was a "entrepreneur tax" in Denmark which was an extra tax that affected business angels.
Employees could also be required to pay taxes on employee stocks - money that they had not earned yet because they had not sold them.
Employees could also be required to pay taxes on employee stocks - money that they had not earned yet because they had not sold them.
http://www.business.dk/navne/ivaerksaetterskat-skal-ses-efte... http://penge.dk/pension-skat/ejere-af-medarbejderaktier-risi...