The Danish Business Authority is notifying companies about new digital bookkeeping rules effective 1 January 2025, as per the Danish Bookkeeping Act.
These rules mandate that companies use a digital bookkeeping system capable of receiving and storing electronic invoices, managing relevant documents, and supporting the SAF-T (Standard Audit File for Tax) format for data exchange.
While electronic invoicing will not be mandatory immediately, companies must ensure their systems can process and archive such invoices. Non-compliance with these requirements could result in fines of up to DKK 1.5 million and may lead to auditors issuing a qualified opinion in the annual report.
The Danish Business Authority is informing businesses about the upcoming changes, particularly those required to submit annual reports. Companies using approved standard bookkeeping systems are not responsible for ensuring compliance, as their system providers will manage this.
However, businesses with customised systems, such as SAP, must ensure their systems meet the new legal standards.
