Accountant in Denmark - Complete Services for Danish Companies
Accountant in DenmarkUpdated on Tuesday 21st June 2022
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|Bookkeeping services|| |
Tracking financial transactions and providing complete and accurate records and accounts
|Payroll||The administration of payroll and employment tax obligations provided by our accountant in Denmark|
|Invoicing||Request, track and manage invoices|
| Cash management |
Wire transfers, cash flow to equity, cash flow to the firm
|Reporting||Handling the annual reporting obligations in Denmark|
|Financial analysis||Monthly, quarterly or annual reports, financial research and analysis|
|Forensic accounting|| |
Evaluate evidence and interpret the findings in the context of an investigation or in court
|Tax compliance|| Assisting investors in Denmark with the payment |
of the applicable taxes
|VAT compliance and reporting||VAT registration according to the applicable threshold, monthly, quarterly or biannual VAT submissions|
|Audit offered by our accountant in Denmark|| Financial, operational, compliance audits and |
other related services
|Property financial matters||Real estate income reporting, real property tax compliance with the help of our accountant in Denmark, as applicable|
| Statutory compliance |
| Assistance for compliance with the Danish GAAP |
|Tax authority assistance||Representation and advice in dealing with matters involving the Danish Customs and Tax Administration|
|Support for voluntary dissolution||Upon request|
|Services for foreign companies offered by our accountant in Denmark||Complete accounting services for foreign branches or subsidiaries in Denmark|
What are the services offered by an accountant in Denmark?
- Bookkeeping: complete financial transaction records for companies, including the balance sheets, income statements, invoice filing, assets inventory, receivables, etc.;
- Payroll administration: an accountant in Denmark from our team specializes in this particular sector, dealing with all of the steps needed for paying the company’s workers;
- Tax and VAT reporting: preparing the annual tax and VAT returns, tax and VAT compliance and registrations as needed;
- Others: issuing monthly, quarterly or annual reports, budget management, invoicing, debt management and others.
What are the Danish accounting principles?
- 22% corporate income tax;
- 27% withholding tax on dividends paid to a resident company, with a 5% reclaim percentage, reducing the effective rate to 22% (in some cases);
- 25% standard value-added tax rate and a 0% reduced VAT rate for certain services.
Who files tax returns in Denmark?
When are the accounting filing due dates?
When should I contact an accountant in Copenhagen for my company?
Tax minimization services in Denmark
Tax minimization represents a set of measures which allows for the legal reduction of taxes and expenses incurred by a company or a foreign citizen relocating to Denmark. You can obtain more information on the tax minimization solutions available for companies from our law firm in Denmark.
Before showing an interest in what is the best way to minimize the taxes paid in Denmark, investors should know that this country is considered a tax-friendly state with a corporate tax rate of 22%.
The available tax minimization measures in Denmark can be regarded from a residency point of view, as only resident companies will be subject to taxation in this country. Permanent establishments such as branch offices of foreign companies will be subject to the corporate tax in Denmark also. This makes double taxation treaties one of the most effective tax optimization tool in Denmark as many levies can be deducted under these agreements.
Our lawyers in Denmark can offer information on the legislation related to taxation under the double tax agreements.
The Danish government has also enabled various tax breaks for companies operating in industries like pharmaceuticals, IT, agriculture, transportation, energy and environment and life sciences which can make viable tax minimization options for business owners in these fields.
Another method through which companies can reduce the taxes paid in Denmark is the foreign tax credit which allows local companies to be reimbursed the levies paid on foreign-sourced income. This method usually applies to subsidiaries of Danish companies in other countries.
Incentives and exemptions as tax optimization solutions in Denmark
One of the most efficient tax minimization tools in Denmark is the distribution of dividends which are exempt from taxation when issued by a local company or received by one. However, there are also exceptions to this rule and they can be explained by our Danish lawyers.
Another effective tax minimization solution is the incentives related to intellectual property rights used in research and development activities