- The Danish Business Authority is informing companies about new digital bookkeeping rules starting 1 January 2025 under the Danish Bookkeeping Act
- Companies are required to use digital systems that can handle electronic invoices, manage documents, and support SAF-T format for data exchange
- Electronic invoicing is not immediately mandatory but systems must be able to process and archive these invoices
- Failing to comply with these rules could lead to fines up to DKK 1.5 million and possibly a qualified opinion in the annual report
- The authority is focusing on businesses that need to submit annual reports
- Companies using standard approved bookkeeping systems will have compliance managed by their system providers
- Businesses with custom systems like SAP need to ensure their systems comply with the new regulations
Source: regfollower.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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