Repayment of VAT loans: How to create a repayment plan without asking the tax office
In this blog, we show you how to create a 24-month repayment plan that covers all your existing (Covid-19) VAT loans which are due in April 2022. The repayment plan can be created without contacting...
Repayment of VAT loans: How to create a repayment plan without asking the tax office
In this blog, we show you how to create a 24-month repayment plan that covers all your existing (Covid-19) VAT loans which are due in April 2022. The repayment plan can be created without contacting...
What is a holding company?
A holding company is defined as a limited liability company that primarily owns shares in other companies. The companies that are owned by a holding company is called operating companies. A holding company in Denmark...
What shall a sales invoice in Denmark contain?
When you sell a product or service to a client, you always need to issue either a normal invoice, a simplified invoice or a receipt. In this blog, we describe what the rules are.
Moms One Stop Shop – New VAT rules from 1.7.2021
If you sell products or certain services to consumers in the EU, where VAT is settled in the buyer's country of residence, then from 1.7.2021, you can declare and pay the VAT in the new...
The business tax scheme in Denmark
The business tax scheme is a particular tax scheme in Denmark you can use as a sole proprietor to lower or postpone your income tax. The business tax scheme enables you to use the company...
How to prepare minutes from your annual general meeting?
If you are the director and or shareholder of a Danish limited liability company - either an ApS, IVS or A/S - then you will need to approve the annual report for the company once...
How to open a company bank account in Denmark?
In this blog, we will explain how you can open a company bank account in Denmark for your company. It is getting very hard for companies to get a company bank account in Denmark but...
How to convert sole proprietorship to ApS
Learn how to convert your sole proprietorship to ApS in our blog here. There can be many reasons why you would want to convert your sole proprietorship to ApS. Very often it relates to the...
You have to convert your IVS to ApS no later than October 15, 2021
The government has decided to discontinue the limited liability company structure called IVS. It means that you have to convert your IVS to ApS. The deadline for this conversion is October 15, 2021. Read how...
What is the difference between freelancer, self-employed and employee?
What is the risk for you and your client if it turns out you are an employee and not a freelancer or self-employed (sole proprietor)? Well, first of all, your client could face both a...
Can a consultant invoice through an LTD (ApS)? – and why it can get VERY expensive in tax if you get it wrong!
In general, you can say, that just because you issue an invoice through an LTD for your consulting services, that does not necessarily make it a company income. In some circumstances, you might have just...
How to scan your invoices to e-conomic using the e-conomic app
We have made a guide for you here that shows how to scan your invoices to e-conomic using the e-conomic app. It is very helpful for us when you scan your invoices since we can...
Why shareholder loans in Denmark is a really bad idea
Shareholder loans can be anything from payments done using the company credit card to pay for a private cost on behalf of a shareholder, to salary advances paid to a shareholder when a payslip has...
What is GDPR?
GDPR is a European Union law that requires businesses operating in the EU to justify how certain data is collected and used. Failure to comply with GDPR can profoundly affect a business, including very large...
Are you a majority shareholder? – Guide to Controlled Transactions – Appendix 05.022
For the year 2019, it has been decided that ALL majority shareholders in Denmark must submit an Excel-sheet together with their personal income tax declaration (oplysningsskema) on SKAT Borger. You are the majority shareholder, when...
Coronavirus/COVID-19: The VAT that was paid 2.3.2020, can now be repaid as an interest free loan to the company
The government has announced a new compensation aid package, that will make it possible to get the VAT paid on 2.3.2020 repaid. The VAT will be refunded as an interest free loan. The loan is...
Coronavirus/COVID-19: This is how you apply for compensation as a small business owner or a sole trader
We have made a guide for your here, if you want to apply for compensation as a small business owner, or a sole trader, as a result of the Coronavirus/COVID-19 crisis. This compensation package is...
Coronavirus/COVID-19: This is how you apply for salary compensation for your employees
We have made a guide here, showing you how to apply for salary compensation in relation to the Coronavirus/COVID-19 crisis. First, you need to log in to the government “VIRK” website – you can click...
Coronavirus/COVID-19: The government now will help compensating small companies for both the loss of sales AND paying for fixed costs
The government will compensate up to 75% of the loss of sales for small companies, that has seen a loss of sales of more than 30%. The compensation will be maximum 23.000 DKK per month....
Coronavirus/COVID-19: Small companies can postpone payment of employee taxes, B-tax (sole proprietors) and VAT
The payment term for employee taxes is postponed 4 months. The payment term for B-tax is postponed. The payment term for VAT is postponed. Remember that you can still change the payment of company income...
Coronavirus/COVID-19: Compensation rules in Denmark for salaries when employees are sent home
The compensation option for salaries relates to companies, that otherwise would be in a situation where they would have to terminate at least 30% of all their employees or more than 50 employees. So for...
Brexit – should you set up a business in EU (Denmark)?
We figured out the key challenges companies will face at the end of 2020 and also looked at how your UK business could benefit from relocating to Denmark.
4 important steps to follow after your new ApS is incorporated
After your new ApS is incorporated, then there are 4 important steps to follow. If we incorporated the ApS for you, then we will assist you getting these 4 steps done correctly.
Bankruptcy – what really happens and how fast does it actually go?
Almost every person that has ever tried to start their own company, knows the fear of running out of money. When you have a company, the technical term for that, is to go "bankrupt" -...
How to close an ApS or IVS
There are 5 important types of closures and proceedings to know: 1: Voluntary liquidation (decided by the shareholders) 2: Compulsory dissolution (ordered by the court) 3: Restructuring 4: Bankruptcy (petition filed by the company or...
How to make a cash report (instructional video)
Watch our instructional video here on how to make a cash report (in Danish: "kasserapport"). A cash report is required by law in Denmark, if your company receives cash from its clients. It is normally...
Price for incorporating a new ApS
Here you can read more about the fees that relate to the incorporation of a new ApS in Denmark.
Company income tax, dividend and dividend tax for limited liability companies in Denmark
Limited liability companies in Denmark pay company income tax on their taxable profits. The company income tax in Denmark is 22% for limited liability companies (2021). After the company income tax is paid, the company...
What can you deduct in your taxable income when making larger investments?
There are two different kinds of depreciation: one relates to accounting principles and the other to the tax law. This is the law we must follow when we make your tax declaration, in which a...
What do we offer corporate clients?
Dania Accounting provides accounting services, payroll services, and other services to corporate clients based in Denmark. We ensure your accounting remain efficient, accurate, streamlined and compliant. We work together with most of the major audit...
Can you deduct your transportation from your home to your company?
To determine whether or not you can deduct transportation costs from your home to your company in your personal taxable income (this type of deduction is called "befordringsfradrag" in danish), then you need to calculate...
What can you deduct when driving a van for your company?
A van used for transporting goods for your business may be eligible for deductions, but the rules are different, depending upon if you purchase or lease the vehicle.
How to deduct your home office in your personal income tax
First off, in order to deduct your home office in your personal income tax, you must change the physical appearance of the office. The tax office in Denmark will ask what you have in this...
How do I make a cash report?
A cash report is not to be confused with the sales report that you print from the register. The report involves documenting how much cash you had in the morning and the evening – basically,...
How to pay VAT or get a VAT refund
This article will cover how we actually pay the VAT, and if you qualify, how you retrieve a VAT refund from the tax office.
How to submit invoices for booking
There are a few different ways to submit your invoices for booking. We always recommend scanning your invoices and submitting them directly to your accounting system, either by using an app or by mailing them...
What do we need from you, when you order payslips?
Before we can make payrolls and salaries for the first time for your employees, your company must be registered to have employees. In Danish this type of registration is called "arbejdsgiverregistrering". It is an additional...
What information do we need to incorporate a new ApS (LTD) in Denmark?
In this blog, we describe what information we need to incorporate a new ApS in Denmark. An "ApS" is a Danish limited liability company structure.
How do you pay tax for your employees?
When you hire an employee in Denmark and negotiate their salary, you’ll always be negotiating a gross salary, not a net salary. A gross salary is the amount paid to the individual by an employer,...
Do I need an auditor to audit my annual report?
Many of Dania Accounting’s clients ask whether or not they actually need an auditor to audit their annual report. In most cases, the answer is no. We’ll briefly explain why by outlining the audit rules...
How to start a sole proprietorship in Denmark?
This guide explains the process of how to start and register a sole proprietorship in Denmark - also sometimes called a "one-man company" or a "one-person company".
What do we offer small companies?
Dania Accounting provides quality service to both small and large companies, including accounting and payroll services, VAT declarations, tax returns, annual reports and budgets.
Incorporating a new limited liability company in Denmark (ApS)
The ApS is a specific type of limited liability company in Denmark. As the owner of an ApS, you are not personally liable for the debts and obligations of the company. Here you can read...
Company tax for sole proprietorships (“B-tax”)
Your payments relating to B-tax, which comes from the expected revenue in the sole proprietorship, will be split into 10 installments. Payments are to be made on the 20th of each month from January to...
What type of company should I choose?
When you need to choose what type of company you want to incorporate in Denmark, the first question you should ask yourself, is whether or not you prefer to run the business where you are...