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Danish employers must - like employers in other countries - pay social security contributions for their employees. However, compared to most other countries, the Danish contributions are quite modest with average contributions of approximately EUR 2,000 per year per full-time employee.
It is easy to set up a business in Denmark. Low taxes for corporations and expatriates make Denmark an attractive location for foreign companies to set up a business. However, before starting a business in Denmark, there are a number of practical issues to consider, which we’ll outline below.
Denmark offers a special tax regime to highly paid inbound expatriates and researchers recruited from abroad.
When an individual comes to Denmark to work, several tax issues arise. In the following, we clarify some of them.
Subsistence allowances are amounts paid to cover the cost of food, accommodation and minor necessities in connection with business travel. Subsistence allowances can be paid tax-exempt, provided certain conditions are met. If these conditions are not met, however, a tax is levied on the...
Basically, a foreign parent company has four different models for improving the financial basis of a Danish subsdiariy:Guarantee for the subsidiary’s debtLoan to the subsidiaryCapital contribution without issue of sharesCapital contribution against issue of shares.
Many Danish businesses hire foreign labour, but Danish tax is rarely withheld from the payment. The reason is that labour in most cases is hired through foreign businesses who often also receive the payment.
The Danish traffic law states that people resident in Denmark may only drive in this country in a car registered in Denmark.
On 19 May 2022, the Danish Parliament passed the bill to a new Danish Bookkeeping Act. It is a new act, which replaces the current Danish Bookkeeping Act.