Controlled Foreign Company (CFC) rules in Denmark for 2023
Controlled Foreign Companies (or CFSs) have become tightly regulated in Denmark as more corporations look to minimise their tax liability by offshoring their subsidiaries to lower-tax countries. As corporations increasingly do business across multiple continents,...
Incorporation
Tax
VAT
Employees and payrolls
Closure
GDPR
Cash report
Accounting
Audit
Transfer Pricing
Controlled Transactions
Reassumption
Forced dissolution
Holding company
Dividend
Accounting software
Corporate tax
Home office
Budget
Sales invoice
General Meeting
Bankruptcy
Description of Accounting Procedure
Tax for Sole Proprietors
Controlled Foreign Company (CFC) rules in Denmark for 2023
Controlled Foreign Companies (or CFSs) have become tightly regulated in Denmark as more corporations look to minimise their tax liability by offshoring their subsidiaries to lower-tax countries. As corporations increasingly do business across multiple continents,...
How to choose the best accounting software for your business in Denmark in 2023
Accounting software has become a core function in the modern business world, and it’s easy to understand why. Both large and small businesses in Denmark use online accounting software to simplify or automate most key...
Transfer Pricing rules in Denmark for 2023
Transfer Pricing rules in Denmark have changed many times over the last couple of years. It is now mandatory for larger companies in Denmark to submit Transfer Pricing documentation each year. It was required to...
Controlled transactions in Denmark in 2023 – What is your obligation as a majority shareholder?
Majority shareholders which are physical persons and who are limited or fully tax residents in Denmark must submit a special declaration each year to the Danish Tax Agency regarding controlled transactions.
How can you reassume a company faced with a compulsory dissolution in 2023?
When a limited liability company (in Denmark, most often ApS or A/S) fails to submit the annual report on time, the Danish Business Authority will request the Danish Maritime and Commercial High Court to dissolve...
Cash flow budget for 2023 – and why having one matters for your business
A budget isn’t just an expense-cutting tool; it can help you grow your business by providing you with the structure you need to make smart financial decisions. By creating a cash flow budget, you can...
How can a non-resident company pay a salary to an employee in Denmark in 2023?
How can a non-resident company pay a salary to an employee in Denmark in 2023? Sometimes a non-resident company wants to hire just a single employee in Denmark. Due to the very low scale of...
How do you distribute an extraordinary dividend in an ApS in 2023?
A dividend is part of the profit paid out to a company's shareholders. Capital companies like ApS and A/S can distribute dividends after the first fiscal year ends and the annual report is approved at...
Repayment of VAT loans: How to create a repayment plan for up to 24 months without asking the tax office
In this blog, we show you how to create a repayment plan for up to 24 months that covers all your existing (Covid-19) VAT loans which are due in April 2022. The repayment plan can...
What is a holding company?
A holding company is a limited liability company that primarily owns shares in other companies. The companies that a holding company owns are called operating companies. A holding company in Denmark can be structured as...
What shall a sales invoice in Denmark contain?
When you sell a product or service to a client, you always need to issue a normal invoice, a simplified invoice or a receipt as a Danish business. In this blog, we describe what the...
Moms One Stop Shop rules in Denmark – “MOSS”
If you sell products or certain services to consumers in the EU where VAT is settled in the buyer's country of residence you can declare and pay the VAT in a system called “Moms One...
The business tax scheme in Denmark for 2023
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 in 2023?
If you are the director and or shareholder of a Danish limited liability company - either an ApS or A/S - then you will need to approve the annual report for the company once per...
How to open a company bank account in Denmark in 2023?
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 your sole proprietorship to ApS in 2023
Learn how to convert your sole proprietorship to ApS in 2023. There can be many reasons why you would want to convert your sole proprietorship to ApS. Very often, it relates to limited liability or...
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 in 2023
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...
How do you comply with the GDPR rules of Denmark?
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...
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 we will assist you get these 4 steps done correctly.
What is the bankruptcy procedure for an ApS in Denmark?
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
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...
Price for incorporating an ApS in Denmark
Our fee for assisting you with incorporating a new ApS is 3.000 DKK + VAT. During the process of incorporation, we also need a lawyer to confirm your deposit of the share capital into a...
Company income tax, dividend tax and dividends in Denmark in 2023
Limited liability companies in Denmark (ApS or A/S) pay company income tax on their taxable profits. Denmark's company income tax rate is 22% for limited liability companies in 2023. After company income tax is paid,...
How to depreciate tangible and intangible assets in Denmark?
There are two different kinds of depreciation: one relates to accounting rules and the other to tax rules. The accounting rules we follow when we make a financial report. The tax rules we follow when...
What Accounting and Payroll Services 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...
How to deduct your transportation costs from home to work in your taxable income
To determine whether or not you can deduct transportation costs from your home to your work in your taxable income (this type of deduction is called "befordringsfradrag" in danish), then you need to calculate the...
What can you deduct in VAT when driving a van for your company?
A van used for transporting goods or tools for your company is eligible for VAT deductions when the company is registered for VAT, but the rules are different depending on the maximum payload of the...
How to deduct your home office from your taxable income in Denmark in 2023
By calculating the cost of using your home office for your business and then deducting this cost from the profit of your business you can lower the profit of your business thus lowering your tax....
How to make a cash report when receving cash payments
Do you receive cash payments in your business? Learn how to make a cash report in Denmark with this detailed guide including video instructions.
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 often and how should you submit invoices for your accountant?
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 is required to make payslips for your employees when we do the payroll?
Before we can prepare the payroll and make payslips for your employees, your company must be registered as an employer. In Danish, this type of registration is called "arbejdsgiverregistrering". You can check on the tax...
What information do we need to incorporate an ApS in Denmark?
In this blog, we describe what information we need to incorporate an ApS in Denmark. An "ApS" is a Danish limited liability company structure and this is the most common type of limited liability company...
How do you pay income tax for your employees?
As an employer in Denmark, you are obliged to withhold income tax from the salary on behalf of your employees. The amount of income tax to be withheld from the salary is decided by the...
Audit requirements in Denmark for annual reports in 2023
Audits of annual reports are not mandatory for most companies in Denmark. In general, larger limited liability companies need to be audited, and smaller companies do not need to be audited. The difference between "smaller"...
How to start a sole proprietorship in Denmark in 2023?
This 2023 guide explains how to start and register a sole proprietorship in Denmark - also sometimes called a "one-man company" or a "sole trader".
What do we offer small business owners?
Headquartered in Copenhagen, Denmark, we specialize in helping customers get their accounting, payroll, annual report and tax returns done accurately and on time, at a fair price, while still being compliant.
Incorporating a new limited liability company in Denmark in 2023 (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...
How do you pay tax in Denmark as a sole proprietor in 2023?
As a sole proprietor, you make partial payments during the year in ten equal instalments. The ten partial payments during 2023 are estimated and not based on your actual profit. We call this a "self-assessment"...
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...