Taxation of company cars – new rules for calculation
As of 1 July 2021, new rules have been adopted for the calculation of taxation of company cars. The new rules apply to all company car schemes – including those entered into before the legislation was passed. In this post we will run through the new rules.
Danish labour must now be taxed in Sweden
Sweden has introduced new rules on the taxation of labour hire with effect from 1 January 2021. The new rules mean that, from the turn of the year, foreign employees must be taxed in Sweden when they perform temporary work in the country – even if their employer is Danish. In this article we present an overview of the impact the new Swedish rules will have on you as an employer.
You can now deposit frozen holiday funds
The new Holiday Act brought in the requirement for holiday funds earned by your employees in the period from 1 September 2019 to 31 August 2020 remain frozen until the employees leave the labour market. You can choose to manage the funds within the company until the time of payment, or you can choose to deposit the frozen holiday funds into the fund.
Do you take care of your employees when they are on leave?
Leave is a period during which employees take time off work. The employment terms set the framework for the leave. Employees are not always entitled to leave, but employers are obliged to give employees leave under certain circumstances, e.g. parental or care leave.
What is the 120-day rule?
The 120-day rule means that, as an employer, you can terminate an employee’s contract with a notice period of one month if they have been absent due to illness for a total of 120 days over 12 months. In this article we have gathered information and facts about the 120-day rule so that you can learn more about your rights and options as an employer.
Change to the Companies Act – the Act on the new control package is introduced
In May the Danish Parliament adopted the government's proposed control package, that includes tools for tackling corporate and accounting fraud. The changes to the Companies Act will come into force on 1 January 2021.
Transfer pricing and the arm’s length principle
When two independent companies trade with each other, the trade is regulated by free market forces. However, when the trading companies are related, there will often be many common interests. This puts the market forces out of play, and concepts such as transfer pricing and the arm’s length principal come into play.
Reduce Costs – Like this!
As a result of the coronavirus, 2020 has been a year in which most companies have sharpened their focus on minimising risks and managing costs with a heavy hand. It is a completely natural reaction in times of crisis. Regardless of whether or not your business is affected by the coronavirus, it always makes sense to have an overview and control over your costs, and to know how you can effectively reduce costs to benefit your business’ liquidity and bottom line.
Transport allowance – field 11 is removed from eIncome
COVID-19 means that many of us have spent significantly more days working from home in 2020 than we normally would have. This means that it is no longer possible for the Danish Customs and Tax Administration to automatically calculate your employees' transport allowance.
Tax and Christmas presents - Do you know the rules
Christmas is fast approaching, and that means gifts and Christmas parties - or gifts at least. Every year around this time, however, we find that a lot of companies are unsure about VAT and tax rules in connection with the joys of Christmas.
The home office – the new normal?
Is life with the coronavirus and working from home the new normal? In this article, you get some advice on how you, as manager, can best handle a situation where your employees work from home.
The new Danish Holiday Act for dummies
This article is aimed at those who do not have time to read the long guides and information articles, but just need an overview of the most essential information about the new Holiday Act.
Recruitment: What is the cost of recruitment?
Recruitment is the process an employer goes through to find a new employee. The recruitment process typically has five main phases: the job ad and applications; interviews and testing; assessment and selection, and finally employment. Everyone knows that recruitment costs, yet a lot of expenses are still forgotten in the planning.
New initiatives approved to raise companies’ cash positions due to Covid-19
The Danish Government has approved a new bill to postpone the payments of employer tax and the reportings and payments of VAT. This is a consequence of the Covid-19 virus, which is expected to have severe negative consequences on the Danish economy.
Beneficial owners: New law passed
As a consequence of the 5th Anti-Money Laundering Directive, the Danish Parliament passed a bill concerning beneficial owners. The principle changes is companies duty to provide information about the company's control and ownership structure. Learn the practical details of the new law here.
Tax on account for companies – ordinary and voluntary
Tax on account is a prepayment of tax. It is an estimated amount, based on a company's actual tax for the previous fiscal years. Twice annually, the mandatory ordinary tax on account is paid. If the company determines that it is not sufficient, they may choose to supplement it by paying voluntary tax on account once per year.
Recruiting employees from abroad is easy
For some years now, Azets has a fruitful collaboration with the Danish relocation company Settwell placed in Frederiksberg in the center of Copenhagen. When one of Azets’ customers wants to hire an employee from abroad for work in Denmark, the procedure is clear.
Danish Holiday Act – four tasks for you as an employer
The current Danish Holiday Act will no longer be applicable after 1 September 2020, and it will have a significant impact on all employees in the Danish labour market. Therefore, it will also have a significant impact on all companies and the administration of employee holidays.
New Holiday Act on its way in Denmark
The new Holiday Act will come into force on 1st September 2020. The transition period between the old and new Holiday Acts will begin in early 2019, so companies should start preparing for the changes now. We have compiled information on the new Holiday Act that will be most important initially, in order to give a clear overview.
Who is RUT, and why should you know RUT?
The rules and requirements for registration of foreign businesses and foreign labour in Denmark (known as the RUT register) were tightened in June 2016. Foreign businesses or self-employed earners are under a duty to notify the Danish authorities of their work.
GDPR – is your business ready?
On May 25, 2018, the Danish Act on Processing of Personal Data will be repealed when the EU’s new General Data Protection Regulation (GDPR) enters into force. The EU legislation will be supplemented with a Danish law governing the nationally defined special rules, which will be named the Data Protection Act.
Electronic registration of ownership with the Danish Business Authority
This post is intended to describe the two types of ownership registration to be made with the Danish Business Authority. The two types of ownership registration relate to the registration of legal owners and beneficial owners.
Allocation of employee shares and duty to report
Many companies offer their employees the opportunity to invest in employee shares as a means to motivate and retain loyalty and commitment. However, some special tax rules apply, which I will address in this post.
Bonuses for employees – what are the rules about taxation?
To many Danes, the prospect of a cash bonus is an attractive part of a total salary package. But when the date for the bonus approaches, many employers and employees are faced with a relevant question; how exactly does taxation work?
Tax on bitcoins – what are the rules?
Cryptocurrencies such as bitcoins have experienced an almost explosive success over the past year. The currencies have quickly gone from being almost mythical to being something that numerous Danes have both traded and invested in.
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