The Danish government recently published new provisions concerning corporate income tax
Online PR News – 10-June-2013 – 1250 Oakmead Parkway, Suite 210 Sunnyvale, CA 94085, U.S – (Sunnyvale, CA)- The Danish government recently published new provisions concerning corporate income tax, accepting several measures announced in the circular "Vækstplan DK - stærke virksomheder, flere job", says Nair & Co. which provides international tax consulting for companies expanding overseas.
Highlights of the 4 bills (L 216, L 217, L 218 and L 219):
Danish New Corporate Income Tax Provisions
• Decrease in the corporate income tax rate from the current 25% to 22%. However, it would be executed in “phases” such that the rate would gradually be reduced to 22.5% in 2014, 23.5% in 2015 and 22% in 2016.
• The new laws provide for increase in the maximum cash payment for research and development costs.
• For taxable incomes covered under “ring fence” in the Danish Hydrocarbon tax act, a new tax will be levied equivalent to the decrease in the corporate tax. Therefore, such income shall not be affected by the decrease in the corporate income tax rate.
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