These emails are designed for those investing into Denmark and those who have plans to do so. We aim to keep the points short and sweet, and to merely list snippets of relevant but easy to read information.
September 2022
- According to The Economist Intelligence Unit Safe City Index 2021 Copenhagen scores top out of 60 major cities worldwide. The Index covers Digital Security, Health Security, Infrastructure Security, Personal Security and Environmental Security.
- To avoid double taxation on income, Denmark has concluded double tax treaties with over 80 countries.
- Danish Jonas Vingegaard won this year’s Tour de France, known as the hardest and most prestigious cycling race of all-time – and the biggest sports event in the world.
- As is the case in most other civil law countries, the public company form (A/S) must have two separate boards of directors Direktionen and Bestyrelsen, often translated as the Management Board and the Executive or Supervisory Board.
- The Danish government reached three agreements with parliament covering a green investment fund of EUR 7.2 bn, a new unified carbon tax, and a renewable energy package that will quadruple the production of solar and land wind energy by 2030.
- Payments of dividends from Danish companies to foreign recipients are subject to Danish withholding tax. The withholding tax rate is 22% for corporate shareholders and 27% for individuals (nil to ‘parent’ companies in treaty countries, EU ‘parent’ and nil on liquidation distributions, if certain conditions are met).
- For the second year in a row, Denmark earns the top spot in the Environmental Performance Index (EPI). EPI is a global sustainability ranking by Yale and Columbia University.
- In accordance with the new Danish Bookkeeping Act from 01 January 2023, it will be mandatory to store all accounting records digitally.
- The Danish Minister of Transportation has announced that 2022 is the ‘Year of the bike’. On top of Denmark hosting the Tour de France Grand Depart 2022, a EUR 10mil investment in the cycling infrastructure has been made to maintain and strengthen Copenhagen’s position as the most bicycle-friendly city in the world, a title which Copenhagen has held since 2015.
- Danish pastry originates from Vienna. In the 1840s, some Austrian bakers settled in Denmark and introduced the beloved pastry. For this reason, Danish pastry is called “wienerbrød” or “Viennese bread” in Denmark.
This message is not given in the form of an opinion, legal opinion or tax advice. If any of the information provided is of interest or relevance to you or your company we would strongly recommend you contact us or another qualified professional for specific advice.