Residual taxes for 2013

27 February 2014

The sooner you pay your residual taxes, the less you have to pay.

If residual taxes are due according to your statement of taxable income for 2013, you are required to pay a day-to-day interest of 3 pct. p.a. calculated for the number of days from 1 January 2014 to the day the residual tax is paid.

If the residual tax is paid later than 1 July 2014, the day-to-day interest is replaced by a 5 pct. surcharge.

The day-to-day interest and the surcharge are non-deductible for tax purposes.

Residual taxes for 2013 of up to DKK 18,700 are collected with the preliminary taxes for 2015 if the residual taxes are not paid on 1 July 2014 at the latest.

Residual taxes for 2013 exceeding DKK 18,700 are collected in three instalments in August, September and November 2014.

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.