Denmark’s Standard Audit File for Tax introduced as part of wider certified digital bookkeeping requirements The Danish Business Authority, Erhvervsstyrelsen, has developed a proposed version of SAF-T reporting for resident businesses to adopt. This is part of the Danish digital bookkeeping requirements being phased in,
EU VAT Directive Art 194 domestic reverse charge to combat fraud Denmark’s Tax Administration has made a range of changes to its VAT laws to tackle VAT fraud. These include: Imposition of domestic reverse charge for wholesale sales of telecommunications services to tackle carousel fraud.
Raised thresholds for declarations for EU intra-community dispatches and arrivals to Denmark Denmark has raised its Intrastat reporting thresholds to the following levels: Arrivals DKK 22m (previously 13m); and Dispatches DKK 11m (previously 10m). The Intrastat electronic reporting form requires data including: goods description; commodity code;
Government change delays implementation of digital invoice and record keeping phased launch; January 2024 now likely The implementation of the Danish Bookkeeping Act has been delayed at the start of December 2022. This was due to the delay in formation of a new government –
Digital invoice and record keeping in phased launch 2024-25 Denmark is to require digital record keeping for businesses from 1 January 2024. This includes using only certified accounting software and ERS. This is similar to the UK Making Tax Digital plan, seeking to ensure the
Raised thresholds for declarations for EU intra-community dispatches and arrivals to Denmark Denmark has raised its Intrastat reporting thresholds to the following levels: Arrivals DKK 13m (approx €1.7m); and Dispatches DKK 1om (approx €1.4m). The Intrastat electronic reporting form requires data including: goods description; commodity code;
Ending of VAT liabilities deferral Denmark is the latest European country to start the withdrawal of coronavirus-related Value Added Tax support measures. The repayment period for VAT liabilities due by 1 November 2021 or 1 February 2022 has now been moved to 1 April 2022.
VAT loans based on prior VAT remittances during pandemic Denmark has extended again its innovative VAT loan repayment scheme as coronavirus lockdown is extended. It is also pushing out its wage tax plans. The loan scheme, launched in April 2020, enabled taxpayers to request a
