The Danish government announced a fresh approach to strengthen entrepreneurship and start-ups by implementing tax cuts and other beneficial measures on 12 June, 2024.

The government will, among other things, provide tax breaks for entrepreneurs in order to make it easier for them to accumulate capital and have a special focus on future talent.

“Denmark must be the best country in the world for an entrepreneur to be in. That is an ambition we have. A strong business community with imaginative and creative entrepreneurs is a prerequisite for a healthy Danish economy. That is why I am also very happy that we have raised our ambitions and are now setting more than DKK 1.1 billion for a better framework for entrepreneurs in Denmark. Of that, over DKK 750 million is allocated for tax breaks, so that it will be easier to be an entrepreneur, and hopefully more people will want to create a start-up company here at home,” said Stephanie Lose, Minister for Economic Affairs.

The government will ease taxes in areas that are of particular importance to entrepreneurs, remove phantom tax, lower the tax on employee shares, lower the tax on share income and make it easier for companies to recruit international talent.

“Denmark must also have some of the world’s leading companies in the future. It requires that we strengthen the entrepreneurial culture and create good conditions for talent and enthusiasm to be developed and become new companies. Because it is in entrepreneurship that the seeds for new major business successes are laid, and we need the entrepreneurs’ ideas and innovative thinking to develop the solutions of the future. Therefore, we must create an even better framework for those who have a good idea and the courage to bring it to life,” added Lose