The Danish government published information on the Budget for 2016 on 29 September 2015. The tax measures set out in the Budget, which will be presented to the parliament on 8 October 2015, include some important changes as summarized below:
– The value used for wealth tax purposes with respect to the valuation of shares for gift and estate tax purposes will be reintroduced from 1 January 2016. This value was abolished by the previous government with effect from 5 February 2015.
– The deductibility of remuneration for certain household services will be reintroduced. In 2016 and 2017, the maximum deduction is DKK 18,000 per person; this is however limited for two categories as follows:
• DKK 6,000 for services in general (e.g. babysitting); and
• DKK 12,000 for craft services (e.g. renovation work).
