Legislation introducing the computation of interest on corrections of value added tax (VAT) and excise duties for past periods became effective 1 July 2023.
The added interest will apply to all corrections, regardless of whether they are initiated by the Danish tax authority or the business itself, and irrespective of the tax periods involved.
Source: KPMG
Latest Posts in "Denmark"
- Danish Court Rules Tattoo Studios Not Eligible for VAT Exemption on Artistic Activity
- Denmark Clarifies VAT Treatment for LLC-to-Partnership Restructuring and Bonus Payments
- Court upholds tax authority’s VAT assessment for tattoo business lacking proper documentation
- Partnership and owners not considered one taxable person for VAT purposes
- Updated DAC7 and DAC8 Reporting Rules for Digital Platforms and Crypto-Asset Service Providers
