This page offers an overview of tax developments being reported globally by KPMG member firms in response to the Novel Coronavirus (COVID-19).
The content will be updated regularly. However, due to the fast-moving pace of change, it may not always reflect the most current developments in a given jurisdiction. Please refer to the date of accuracy and refer to the relevant links, under additional information, for original source information.
Tax payment deadlines
Disclosure deadline extensions
Company tax account (Skattekontoen)
The current limit of DKK 200,000 for companies' tax account balance increased to DKK 10 million on 17 March. On 30 April, the limit was further increased to DKK 100 billion. The increase to DKK 100 billion is in place in the period 7 May 2020 until 1 April 2021. Companies will have access to adjust and set the amount limit in their tax account. With the new increased limit, companies with excess liquidity will have an increased possibility to insert an amount on the Company tax account in order to avoid negative interest and at the same time ease the pressure on the public finances.to insert an unlimited amount on the Company tax account in order to avoid negative interest and at the same time ease the pressure on the public finances.
VAT payment deadlines
Temporary increase in R&D extra deduction
A bill has been proposed to increase the R&D deduction for companies to 130% for FY 2020 and 2021. The extra deduction is capped at a tax value of DKK 50M extra deduction. The means that the cap will be reached by companies having R&D costs of more than DKK 842M (2020) or DKK 909M (2021).