Reporting to the Danish tax loss register

31 October 2014

Now, the Danish tax authorities have adapted their IT systems making it possible to report tax losses. Unreported losses will be irrevocably lost.

In the March issue of tax:watch this year, we mentioned a bill requiring companies to report unexploited tax losses to the Danish tax authorities.

The bill was passed by the Danish parliament on 28 May 2014.

According to the bill, it is a condition for carrying forward unexploited tax losses for the period 2002-2013 that the losses have been reported to a special register with the Danish tax authorities.

Now, the Danish tax authorities have adapted their IT systems making it possible to report tax losses according to the bill.

Reporting of tax losses must be made no later than 1 August 2015, which is the same date on which the tax return for the income year 2014 must be submitted to the Danish tax authorities.

Unreported losses will be irrevocably lost.

Reporting of tax losses must contain information on the total loss carried forward specified per company. Further, the period from which the loss originates from must be stated.

Only unexploited tax losses that exist at the end of the income year 2013 must be reported.

The above article is taken from tax:watch, our electronic English newsletter on Danish Tax and VAT matters. tax:watch is issued on the last Friday of each month and is free of charge.