Denmark: Government Passes bill on Country-by-Country Reporting
On 18 December 2015 the Danish Parliament approved the draft Bill introducing Country-by-Country Reporting based on Action 13 of the Organization for Economic Co-operation and Development (OECD) project on Base Erosion and Profit Shifting
See MoreDenmark publishes a draft bill to relax the taxation of outbound and inbound dividends
The Danish Minister of Taxation published a draft bill on 5 October 2015. This draft bill planned to relax the taxation of certain categories of outbound and inbound dividends in order to comply with European Union (EU) law. However, the proposals
See MoreDenmark: Government publishes a proposal to introduce CbC reporting
The Danish government published a proposal on 18 September 2015 to amend the current tax law, and provide measures that would increase the Danish transfer pricing documentation requirements and include country-by-country (CbC) reporting. The
See MoreDenmark: Budget for 2016
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.
See MoreDenmark publishes information on the Budget for 2016
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: -
See MoreGhana: Treaty with Denmark boost Denmark’s investment in Ghana
Statistics from the Ghana Investment Promotion Centre (GIPC) reveal that direct investment from Denmark to Ghana in early 2014 amounted to over US$57.6million. The Finance Committee Report of Parliament also indicated that imports from Denmark to
See MoreDenmark: National Tax Tribunal Decision on foreign exchange losses on sale of shares
The Customs and Tax Administration published National Tax Tribunal Case No. 122-0208149 on 30 June 2015. The Tribunal held that foreign exchange losses realized on the sale of shares of a subsidiary resident in another Member State are not
See MoreDenmark: Parliament Enacts Law to Combat Tax Evasion
The Danish parliament has adopted a law proposal (L 167) that includes some of the measures agreed on in the package of proposals to combat tax evasion. The law covers the following measures: The control of foreign trusts is improved in order
See MoreDenmark: Minister of Taxation Clarifies Danish Treaty Policy
The Ministry of Taxation published a press release summarizing the statements given by the Minister to Parliament on 29 April 2015 in an open hearing regarding the Danish treaty policy. The main emphasis of the hearing was the conclusion of tax
See MoreDenmark: Information Published on Transfer Pricing cases
The Ministry of Taxation published on 11 March 2015 information regarding the transfer pricing (TP) adjustments made in 2014 and the main transfer pricing focus areas for 2015. During 2014, the tax authorities dealt with 76 transfer pricing cases,
See MoreDenmark: Filing a paper form is no longer possible for companies
The Ministry of Taxation announced, on 3 February 2015, a new schedule relating to the digitalization of corporate tax filing. A new schedule was required as the necessary adjustments to the IT systems will be more time-consuming and complicated
See MoreDenmark & Ghana DTA ratified by Denmark
The Danish government ratified the Denmark-Ghana Double Tax Treaty (DTA) on 19 December 2014, which was signed on March 24, 2014. Further details of the treaty will be reported
See MoreDenmark & Ireland: Protocol to DTA ratified by Denmark
On 9 December 2014 Denmark ratified the amending protocol to the Denmark - Ireland Income Tax Treaty (1993), by way of Bill L 5. Further details of the protocol will be reported when they are
See MoreDenmark: Government publishes package on measures to prevent tax evasion
The Danish government published a package of measures to prevent tax evasion and the use of tax havens on 6 November 2014. The Package highlighting on the following measures: Taking an active role at the international level by, inter alia,
See MoreDenmark: Ministry of Taxation publishes its law programme for 2014-2015
The Ministry of Taxation published its law programme for 2014 and 2015 on 7 October 2014 and the main measures of the law programme are summarized below: Corporate taxation: Amending the tonnage tax regime by including more ship types within its
See MoreThe protocol to treaty between Denmark and India has been approved
Recently, Denmark approved the amending protocol, signed on 10 October 2013, to the Denmark - India Income and Capital Tax Treaty
See MoreDenmark: New Figures published for personal income tax 2015
The Ministry of Taxation published on its website on 2 September 2014, the figures applied for personal income tax purposes in 2015. Furthermore, it lists the applicable figures for other taxes. Such figures are adjusted annually according to
See MoreDenmark:Announced Budget Proposal for 2015
The Ministry of Finance published its Budget Bill for 2015 on 26 August 2014. The Budget is focused on certifying better benefit, producing more jobs and keeping the economy sound under mechanism. The Budget will generally apply from 1 January
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