The Budget for 2016 was presented to the parliament on 6 October 2015. The following main changes are proposed in the Budget:

  • Corporate taxation: Country-by-country reporting for income and taxes paid is introduced for multinational enterprises. Further vessel types are included in the scope of the tonnage tax regime.
  • Personal taxation: The special deduction for commuting by using the Great Belt Fixed Link which runs between the Danish islands of Zealand and Funen, are increased to DKK 110 per journey currently which is DKK 90 per journey.
  • Real estate taxes: Municipalities are given the possibility of exempting, partly or fully, land which has disappeared due to erosion in the coastal areas from municipal real estate tax.
  • Other measures: Several amendments to various tax laws are made in order to implement the OECD global standard of reporting and exchanging account information.

 Details of the Budget will apply from 1 January 2016.