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Danish tax law develops significantly over the past year

Denmark

Bech-Brunn, the Danish member of the Taxand network, recently launched their annual tax newsletter covering the most significant Danish tax news for the period September 2008 to July 2009. The period covered corresponds with the Danish parliamentary year and includes legislative amendments applicable to foreign individuals and multi-national companies.

 

Taxand's Take

The spring of 2009 has been one of the decade's busiest periods on the Danish tax scene. At the end of May 2009, the Danish Parliament passed the 2009 Danish tax reform (the "Tax Reform"). The Tax Reform introduces a number of important amendments to the current Danish tax system applicable to both individuals and companies, including an improvement of the Danish participation exemption for dividends and capital gains realised on the transfer of shares.

Their annual newsletter identifies:

  • The most important aspects of the Danish Tax Reform.
  • The Danish tax rules introduced as extra aid for businesses in distress.
  • An update on recent changes to the status of Denmark's tax treaties, including a description of the termination of Denmark's tax treaties with France and Spain, which ceased to be in force on 1 January 2009.
  • Provides an extract of an article examining alternative favourable tax planning structures.
  • Summarises the Danish reaction to the allegations of treaty violations as well as a brief review of the correspondence between the European Commission and Denmark.
  • Provides a short introduction to recent amendments to the Danish VAT rules concerning VAT on aircraft, transfer pricing and extended access to applying the so-called "reverse charge".

Your Taxand contact for further queries is:
Anders Oreby Hansen
T. +45 72 27 36 02
E. aoh@bechbruun.com

Taxand's Take Author