- Starting from June 2023, Denmark has implemented a new reconciliation functionality for VAT returns.
- This functionality includes an automatic check of the reported figures in boxes A and B on VAT returns, focusing on value added tax (VAT) transactions within the European Union (EU) and exempt transactions.
- Additionally, as of July 1st, 2023, the Danish tax authorities will charge interest on any corrections made to VAT and/or duty where the chargeable amount is larger than initially reported.
- This move aims to ensure accurate reporting and compliance in VAT-related matters.
- The changes reflect a more stringent approach to reconciling VAT returns and maintaining the integrity of the tax system in Denmark
Sources
- marosavat.com – VAT returns in Denmark and the new reconciliation functionality
- kpmg.com – Denmark: New automatic check of reported VAT figures
- skat.dk – VAT returns and deadlines
- pincvision.com – Denmark will implement new controls as from July 2023
- globaltaxnews.ey.com – Corrections to past VAT returns will incur interest from 1 July
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