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how to have a happy and compliant year-end

2023 is almost over, but you still have time to implement or check up on your efforts to have a happy and compliant year-end.

Employers

  • Adjust new rates for tax free allowances for 2023, e.g., Per Diem allowances and Mileage allowance
  • Review if rates on tax free payouts have been followed throughout 2023
  • Make sure that unused holiday is agreed to be transferred or paid to the employee (maximum of five days)
  • Adjust for the new requirements of the salary for employees on the expat scheme (if necessary)
  • Apply or re-apply for A1 certificates for cross-border employees
  • Review reports for payroll and align for potential changes no later than February 2024
  • Prepare reports for eKapital on stock incentive plans
  • If it has been a year of growth be mindful of deadlines changing on withholding tax and VAT

Individuals

  • Payment of outstanding tax for 2023 before 31st December to avoid day-to-day interest applied from 1st January 2024
  • Update your 2024 preliminary tax assessment (“Forskudsopgørelse”) so you are set for correct tax withholding in 2024
  • Consider (extra) contributions to deductible pensions
  • Prepare for changes to year-end statement for 2023 when it becomes possible in February (so it will be included on the first edition)
  • Consider if you should opt for the extended information scheme with deadline for changes on July 1st rather than May 1st
  • Prepare an overview of shares/stocks which have been traded during the year, and which are not automatically reported to the Danish authorities
  • Secure documentation for foreign taxed income in order to seek relief of taxation in Denmark

In General

  • A new double tax treaty between Denmark and France enters into force from January 1st 2024

latest news

New Øresund Agreement: Simplified Taxation for Cross-Border Workers and Employers

The new Øresund Agreement between Denmark and Sweden introduces significant updates to the taxation system for cross-border workers. This modernisation aims to simplify tax rules, reduce administrative burdens, and reflect the evolving nature of work, especially with the rise of remote working. Below is a detailed analysis of the key provisions and their implications for workers and employers in the Øresund region.

The 1% Holiday Allowance

In May and August, the 1 % holiday allowance is paid to the employees which has a right to paid holiday. The 1% holiday allowance is an additional allowance. The holiday allowance is 1% of your accrued holiday applicable salary from the 1st of September to the 31st of August.

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