The Danish Parliament on 17 March 2020 passed legislation to provide assistance to Danish companies as they cope with the coronavirus (COVID-19) crisis. The legislation allows companies to defer payment of tax and value added tax (VAT) for a total of DKK 165 billion.
With the legislation:
Increased tax account
The current limit of DKK 200,000 in companies’ tax accounts has been increased to DKK 10 million. The new amount limit will be valid until 30 November 2020. Companies can themselves regulate the amount of the tax amount as the limit, but this can be set at a maximum amount of DKK 10 million, at the earliest on 25 March 2020.
Read a March 2020 report (Danish) prepared by the KPMG member firm in Denmark
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