Corporate income tax returns
It has become compulsory to digitally report income tax returns for companies, foundations and associations. The deadline for the 2014 financial year has been pushed to September 1, 2015.
In the future, "taxable income before losses" must be noted in income tax returns. All companies, including subsidiaries, must report "taxable income before losses" on their income tax returns.
The calculation module allocates and forwards losses and calculates taxable income/joint taxation income. The calculation module also updates the tax loss register on an ongoing basis in line with the income tax return process depending on what will be used of a deficit and new deficits that may occur.
In addition, the form used for controlled transactions has changed, and is now an integral part of the tax return. If the total amount of controlled transactions exceeds 5 million DKK, the form must be completed.
It has also recently been decided that the specific amounts must be reported per transaction type and thus must not be checked in a range. The amount can be rounded off. For instance, if the amount exceeds one million DKK, the amount is rounded to the nearest million; amounts under one million DKK may be rounded to the nearest 100,000; amounts under 100,000 DKK may be rounded to the nearest 10,000; amounts under 10,000 DKK may be rounded to the nearest 1,000, though at the very least to 1 DKK.