Finding a Danish law firm for company law, real estate and tax law
In Denmark, companies are governed by the Companies Act. The act outlines the rules and regulations for companies, including the different types of companies that can be established (such as private limited companies, public limited companies, and partnerships), the requirements for establishing and running a company, and the rights and obligations of shareholders and directors.
Real Estate Law:
The Danish real estate market is regulated by a number of laws, including the Danish Building Act, the Danish Planning Act, and the Danish Property Trading Act. These laws set out the rules and regulations for property ownership, development, and transfer.
When purchasing real estate in Denmark, it is important to ensure that all necessary permits and approvals have been obtained and that the property complies with all relevant building codes and regulations. Real estate transactions in Denmark must be conducted through a licensed real estate agent or lawyer.
Companies in Denmark are subject to a range of taxes, including corporate income tax, value-added tax (VAT), and payroll taxes. The standard corporate income tax rate is currently 22%, but reduced rates may apply to certain types of income or to small and medium-sized enterprises. VAT is levied at a standard rate of 25% on most goods and services, with reduced rates applicable to certain items such as food and public transportation.
The Danish tax system is administered by the Danish Tax Agency, which is responsible for collecting taxes, conducting audits, and enforcing tax laws. Companies operating in Denmark must comply with all tax laws and regulations.
In Denmark, companies are subject to corporate income tax (CIT) on their taxable income. The current standard CIT rate in Denmark is as mentioned 22%, but there are reduced rates for certain types of income and for small and medium-sized enterprises (SMEs).
Companies are also subject to a number of other taxes, including:
Value-added tax (VAT): Companies must register for VAT if their annual turnover exceeds DKK 50,000. The standard VAT rate in Denmark is 25%, but reduced rates apply to certain goods and services.
Withholding tax: Non-resident companies may be subject to withholding tax on certain types of income, such as dividends and royalties.
Payroll taxes: Employers in Denmark must withhold taxes from employee salaries and make contributions to social security programs.
Property taxes: Companies that own real estate in Denmark may be subject to property taxes.
Other taxes: Other taxes that may apply to companies in Denmark include environmental taxes, excise taxes, and customs duties.
Denmark has tax treaties with many other countries to prevent double taxation, which occurs when a company is taxed on the same income by two different countries.
It’s important for companies operating in Denmark to keep accurate records and comply with all tax laws and regulations. Failure to do so can result in fines and penalties.