Transfer pricing concerns the setting of prices and terms and conditions for the trade that takes place between two or more parties in the same corporate group (so-called "controlled transactions"). Companies are obliged to prepare written documentation that can form the basis for an assessment as to whether the prices and terms and conditions of the controlled transactions are in accordance with what could have been achieved if the transactions had taken place between independent parties.
Previously, the rule was that documentation had to be submitted upon request from the Tax Authority, but under new rules the documentation must be submitted automatically to the Tax Authority no later than 60 days after the deadline for submitting the tax return.
If the documentation is not submitted on time, a decision will be made as to whether the company should be fined for its failure to submit the documentation, and practice in this area is strict. Companies that either intentionally or grossly negligently fail to submit their documentation on time can be fined DKK 250,000 per company per financial year plus an additional fine of 10% of any increase in income derived from the lack of documentation. If the company subsequently submits the documentation, the fine can be reduced to DKK 125,000 per company per financial year, but still with the additional fine of 10% of any increase in income.
universadvokater's partners have several decades of experience in international practice covering the full spectrum from day-to-day cross border business to multi-million dollar projects and dispute resolution.
universadvokater has a unique and close personal network of lawyers in excellent law firms throughout the world.
Folketinget har den 1. juni 2023 vedtaget nye regler om land-for-land-skatterapportering for visse virksomheder. Reglerne skal sikre gennemsigtighed vedrørende virksomheders skattepraksis, herunder sørge for, at der er overblik over de lande, hvor visse virksomheder har en indtjening og betaler skat.
Er din virksomhed omfattet?
De nye regler om skatterapportering finder anvendelse for samtlige de virksomhedsformer, der er oplistet i årsregnskabslovens § 3, stk. 1. Virksomheder, som vil blive omfattet af de nye regler, er følgende:
- Virksomheder, der har en nettoomsætning, som overstiger 5,6 mia. kr. årligt i 2 sammenhængende år. Disse virksomheder skal udarbejde land-for-land-rapporteringen for selve virksomheden.
- Modervirksomheder, hvor koncernen aflægger koncernregnskab og som har en nettoomsætning, der overstiger 5,6 mia. kr. årligt i 2 sammenhængende år. Modervirksomheden skal her udarbejde land-for-land-rapporteringen for koncernen.
- Dattervirksomheder omfattet af regnskabsklasse C eller D, hvor modervirksomheden er etableret uden for EU/EØS, og hvor den øverste koncerns nettoomsætning overstiger 5,6 mia. kr. årligt i 2 sammenhængende år. Rapporteringen skal her foretages for den øverste koncern.
- Visse filialer af udenlandske virksomheder, der er etableret uden for EU/EØS. Land-for-land-rapporteringen skal her udarbejdes for koncernen eller den udenlandske virksomhed.
Hvilke oplysninger kræves?
Virksomheder og koncerner skal ved land-for-land-rapporteringen sørge for, at rapporteringen indeholder følgende oplysninger:
- En beskrivelse af virksomhedens eller koncernens aktivitet og virksomhedens eller koncernens antal heltidsbeskæftigede.
- Virksomhedens eller koncernens indtægter, herunder nettoomsætningen, driftsindtægter, indtægter af kapitalinteresser, indtægter af andre værdipapirer og tilgodehavender, renteindtægter.
- Virksomhedens eller koncernens resultat før skat.
- Virksomhedens eller koncernens betalbare indkomstskat i hver skattejurisdiktion for det regnskabsår, som rapporten vedrører.
- Virksomhedens eller koncernens betalte indkomstskat i hver skattejurisdiktion for det regnskabsår, som rapporten vedrører.
- Virksomhedens eller koncernens akkumulerede overskud.
- Navn og cvr-nummer på den virksomhed eller koncern, som offentliggør rapporten.
- Navn, hjemsted og evt. cvr-nummer på den virksomhed, som rapporten vedrører.
- Det regnskabsår, som den pågældende rapport vedrører.
- Den valuta, som er anvendt ved udarbejdelse af rapporten.
- Hvis rapporten vedrører en koncern, de dattervirksomheder, som indgår i koncernregnskabet, og som er etableret i et EU-/EØS-land eller i et land, som er optaget på EU-listerne over ikke-samarbejdsvillige skattejurisdiktioner.
Specielle krav til oplysningerne
Virksomheder, som er omfattet af reglerne, kan opgøre de oven for nævnte oplysninger på det samme grundlag, som den rapport, der indgives til told- og skatteforvaltningen om virksomhedens økonomiske aktiviteter i de enkelte lande efter skattekontrollovens §§ 48-52.
Virksomheder kan i relation til de ovenfor nævnte oplysninger i særlige tilfælde udelade visse oplysninger fra rapporten, hvis en offentliggørelse heraf medfører risiko for at volde skade for den virksomhed, som de pågældende oplysninger vedrører. Det skal dog angives, hvilke oplysninger, der er udeladt, samt en beskrivelse af årsagen til at udelade oplysningerne.
Indberetning, offentliggørelse og påtegning
Virksomheders eller koncerners rapport skal ikke indgå som en del af årsrapporten, men rapporten skal dog offentliggøres og indberettes særskilt til Erhvervsstyrelsen senest 12 måneder efter afslutningen af regnskabsåret, som den pågældende rapport vedrører.
Omfattede virksomheder og filialer skal desuden i min. 5 år på deres respektive hjemmesider henvise til rapporten. Dette har til formål at sikre, at rapporten er let tilgængelig, således at brugere kan tilgå rapporten enten via virksomhedens/filialens hjemmeside eller via cvr.dk, hvor rapporten ligeledes vil blive opbevaret.
Revisionspåtegningen for årsregnskab og eventuelt koncernregnskab for virksomheder, der henregnes til regnskabsklasse C og D, skal indeholde en udtalelse om, hvorvidt disse havde pligt til at udarbejde en rapport om indkomstskatteoplysninger for det foregående år og i bekræftende fald, om denne rapport er offentliggjort.
Fra hvornår skal du være opmærksom på de nye regler?
Folketinget vedtog lovforslaget den. 1. juni 2023, således at reglerne om skatterapportering trådte i kraft den 22. juni 2023 med virkning for regnskabsår, som begynder den 22. juni 2024 (eller senere).
Our commercial real estate team can advise and support you with:
- Acquisitions and sales
- Asset management
- Leases
- Property litigation
- Development and construction
- Planning law
- Environmental issues
Our approach is both pragmatic and innovative. We use our experience as well as our creativity to provide strategic advice which will help you find practical solutions to your corporate challenges and assist you to achieve your objectives.
Our corporate team can advise and support you with:
- Mergers and acquisitions
- Due diligence
- Corporate restructuring
- Private equity transactions
- General corporate advisory
- Company secretarial work.
If you need Danish legal advice on a family law or private matter, our team will be happy to assist you and ensure that you receive the support and guidance you need.
Send an email to mail@universadvokater.dk with a short description of the matter you would like advice about, and one of our private client team will give you a call. We are always happy to have a preliminary discussion at no charge.
Our team can advise and support you with:
- Wills and inheritance matters
- Family law, including nuptial agreements
- Division of assets
- Danish summerhouse law and recreational use compliance
- Conveyancing.
In 2012, rules were introduced requiring the largest Danish companies to set a target and prepare a policy for increasing the proportion of the underrepresented gender in the company's top management body and to report on these initiatives. These rules were tightened by Act No. 568 of 10 May 2022, which entered into force on 1 January 2023 and the Danish Business Authority has published updated guidance as a result of the legislative amendment.
The new rules mean, among other things, that with effect from 1 January 2023, companies must not only set a target figure and prepare a policy to increase the proportion of the underrepresented gender in the company's top management body but must also set a target figure for the proportion of the underrepresented gender at the company's other management levels. Stricter requirements have also been introduced for reporting on the specific measures and actions the company has taken to achieve its target figure. It is now a requirement that the company takes active steps to increase the proportion of the underrepresented gender in management.
The rules cover all state-owned public limited companies and listed companies included in accounting class D, as well as the large Danish companies included in accounting class C.
A parent company that prepares consolidated group accounts may be covered by the rules if it is the parent company of a group that as a whole fulfils the criteria for being a "large" company. This will be the case if the group of which the parent company is part exceeds the size thresholds for an undertaking to be covered by the rules. The calculation of whether a parent undertaking is "large" must be made at group level when the parent undertaking prepares consolidated group accounts.
Gender balance in this context means 40/60% women/men (or the number that comes closest to 40% without exceeding 40%). As an example, the Danish Business Authority states that a company with a board consisting of three directors will have an equal gender distribution by having one female member and two male members or vice versa - i.e., 33.33% / 66.67%. It is irrelevant whether women or men make up 40% or 60%. A company is not obliged to set targets or develop a policy to increase the proportion of the under-represented sex once it has achieved the above gender balance. It should be noted that a company does not have a balanced representation if it only has women in the management body.
The new rules require companies to include a report on their target figures for the gender composition of the top management body and their target figures and policy for the gender composition at the company's other management levels in the management commentary in the annual report. As a general rule, this report must be consolidated in one place, so that the various elements in the report are not spread out in different places within the management report.
The new reporting requirements are effective for financial years beginning on or after 1 January 2023. Companies that have the calendar year as their financial year must therefore include a report that lives up to the stricter requirements in the annual report for 2023.
The Danish Business Authority states that the changes are intended to promote a more equal distribution of women and men in companies' top management bodies and at the other levels of management. The intention is to increase transparency and thereby incentivise companies to promote gender balance. The rules are intended to give companies flexibility to set targets that fit their specific circumstances and to respect the companies' management rights and individual company and industry conditions.
You can find the Danish Business Authority's guidance here:
Please click here to go to our Legal Notice page.
The Legal Notice page is in the Danish language, but you may use the translation tool on the page's top menu to translate the page into a language of your own choice.
Please note that translations may be inaccurate. In case of any difference in meaning between the Danish language original version and any translation thereof, the Danish language original version shall be applicable.
We offer a wide range of dispute resolution services and are experienced in assisting our clients with negotiations, mediations, arbitration, litigation, and multi-party proceedings as well as appellate proceedings in many different areas of the law, such as commercial property disputes, construction disputes, corporate & shareholder disputes, debt recovery, employment disputes (including claims of discrimination), intellectual property disputes and IT disputes.
We represent clients in regulatory inquiries and enforcement proceedings as well as related civil disputes and litigation. We are also experienced in advising clients on the wider risk and public relations issues that are often involved in commercial disputes.
Our team can advise and support you with:
- Drafting data protection policies, including incident response policies.
- Navigating the restrictions on collection and use of consumer information.
- Consumer engagement activities such as marketing and advertising
- Training on how to handle a data breach, and assistance with actual data incidents and breaches.
- Regulatory compliance advice including compliance assessment and remediation.
We can provide you with pragmatic, business-oriented advice and assist with all manner of employment law related queries, such as:
- Contracts including employment contracts, director contracts and consultancy agreements
- Employee incentives
- Change management including workforce reduction, collective redundancies, changes to existing terms and conditions and exit negotiations for senior employees
- Diversity and equality issues
- Confidentiality issues including restrictive covenants and business protection
- Sick leave issues including assistance with the Danish 120 day rule
- Working environment rules and requirements
- International recruitment including posting workers internationally and hiring foreign workers into Denmark
- Discrimination cases
- Dismissals
Our team can advise and support you with:
- Strategies for IP protection
- Intellectual property registrations
- Marketing law
- Competition law
- Protecting trade secrets
- Domain name issues
- Intellectual Property disputes
- Negotiating and drafting agreements, such as licence agreements, transfer agreements, joint venture agreements, distribution agreements and IT contracts.
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universadvokater arbejder med et stort antal fagområder. Kun enkelte af fagområderne har deres egen hjemmeside.
When dealing with a partner from a different country, it is always a good idea to keep in mind that there may be specific formal requirements that must be complied with in the country where your partner is established.
This applies when a Danish company does business with a German partner. For example, when entering into a contract with a German partner it is important to note that not every form of contract is legally binding in Germany.
Section 126 of the German Civil Code states that if the written form is prescribed by an applicable law, the physical document must be signed by the issuer himself with a wet signature.
Conversely, this means that the written form can be replaced by the electronic form if the law does not state otherwise.
Its also worth noting that invoices, orders, cancellations and direct debit authorizations can be received digitally in Germany.
Not usually is the short answer!
As a general rule, it is not possible for foreigners to buy a holiday home in Denmark, and this applies regardless of whether you are an EU-citizen or not.
However, special permission can be obtained from the Ministry of Justice if the applicant has a particularly strong affiliation with Denmark. When assessing the applicants affiliation with Denmark, the Ministry of Justice will look at any prior periods of residence in Denmark, and any special family, business, cultural or economic connection to Denmark, as well as any special connection that the applicant has to the property that they wish to acquire.
Whilst several restrictions apply to foreigners' purchases of real estate (including holiday homes) in Denmark, the same restrictions do not apply to the purchase of houseboats.
As a general rule, EU citizens are able to buy a houseboat in Denmark and use it as a holiday home. However, as always when buying a home, there are many factors that should be investigated before signing the purchase agreement.
We advise you to reserve the right to consult a Danish lawyer before finalising a purchase agreement (tage advokatforbehold).
The Consumer Ombudsman has, in a press release dated 26 January 2023, reported that when a company makes a reservation of an amount on a consumer's bank account without consent, the Consumer Ombudsman considers this to be a violation of the Payment Act and good practice.
The Consumer Ombudsman has conducted investigations into a number of complaints concerning the reservation of amounts on consumer accounts. When a reservation of an amount on a consumer's account is made, the consumer loses control over the reserved amount for the period during which the reservation is maintained. This is a disposition over the consumer's money which requires an explicit agreement.
Amounts can be reserved when, for example, a consumer pays with international payment cards such as Visa and Mastercard at online stores, but not with a Dankort.
When buying on the internet, it is often not clear that when the consumer chooses to pay with an international payment card, the amount of the purchase will be reserved on their accounts until such time as the products are dispatched and the payment is actually made. In order to comply with the Payments Act, companies must ensure that consumers are aware that an amount is being reserved in connection with their order and accept the reservation.
The Consumer Ombudsman states that a number of companies that provide payment solutions for webshops have been informed about where information about the reservation of the purchase price can be placed in the ordering process, to ensure the consumers' acceptance of the reservation on their account until such time as the webshop sends the product and the payment is made.
You can read more about the cases here:
The European Commission published its proposal for a green claims directive on March 22, 2023. In recent times European countries, including Denmark, have also been developing their national laws and taking steps to accelerate the process at a national level.
The European Commission's proposal is known as the "Directive on substantiation and communication of explicit environmental claims", and it aims specifically to regulate green claims and protect consumers from greenwashing and misleading environmental claims.
If the Directive is implemented, it will impose new obligations on businesses when making green claims. These obligations will apply in addition to general obligations under already existing advertising laws that claims must not be misleading.
The Directive provides, among other things, that before making any green claims, businesses must carry out a life-cycle assessment based on widely recognised scientific evidence (where possible). The assessment must then be made available to consumers and for independent verification. Businesses must keep the life-cycle assessment under review and update it either when the science evolves or, as a minimum, after 5 years. There is also a new provision related to the regulation of mission statement claims which, if implemented, will mean that when a business decides to make a mission statement claim about how it intends to improve its environmental impact, it must set a deadline for when it intends to complete the mission.
In Denmark, the Marketing Practices Act already regulates this area and violation of the relevant provisions of the Act is punishable by fine. The Consumer Ombudsman plays an important role in enforcing the rules in the Act that regulate greenwashing. In 2021 the Consumer Ombudsman published a Quick Guide for businesses on environmental marketing as part of its efforts to combat misleading greenwashing in Denmark.
The Consumer Ombudsman investigated several companies use of green claims in 2022 and emphasised that when a company uses green claims in its marketing, for example by claiming that its products are less harmful to the environment than other products, the company must be able to document its claims.
Whilst the Consumer Ombudsman has responsibility for investigating alleged greenwashing cases in Denmark, financial sanctions can only be imposed by the Courts following a police investigation and trial. Whilst the Consumer Ombudsman did not report any greenwashing cases to the police in 2022, the increasing focus on the regulation of environmental marketing means that it can only be a matter of time before a police report is made in a greenwashing case in Denmark.
You can access the Consumer Ombudsmans Quick Guide in Danish here:
https://www.forbrugerombudsmanden.dk/media/56731/kvikguide-om-miljoemarkedsfoering.pdf
Cybersikkerheden har i stigende grad været truet i den seneste tid. Dette hænger tæt sammen med den digitale omstilling.
Derfor har EU for nyligt vedtaget et nyt direktiv, NIS2, som har til formål at sikre et højere og mere ensartet niveau af cyber- og informationssikkerhed på tværs af EU. Derudover skal der med det nye direktiv nu føres skarpere tilsyn, og såfremt ledelsen i virksomheder ikke lever op til direktivets krav, kan den gøres ansvarlig for brud på loven.
Er din virksomhed omfattet?
NIS2-direktivet finder anvendelse på offentlige og private enheder, der kategoriseres som vigtige enheder eller væsentlige enheder, og som udøver aktivitet eller leverer ydelser inden for EU.
Vigtige enheder er eksempelvis enheder, der beskæftiger sig med fremstilling af elektronik og maskiner, eller enheder, der beskæftiger sig med fremstilling af fødevarer eller kemikalier, hvorimod væsentlige enheder eksempelvis er bankvirksomhed, energi og offentlig forvaltning.
Små virksomheder, der har en omsætning på mindre end 10 mio. euro og færre end 50 ansatte, bliver som udgangspunkt ikke omfattet af lovgivningen, idet der dog er visse undtagelser.[1]
Hvilke krav stiller direktivet til din virksomhed?
Hvis man er omfattet af direktivet, betyder det, at ledelsen i organisationen skal kende til de regler, der findes i direktivet. Ledelsen har nemlig ansvaret for, at cyberrisici bliver forebygget.
Der er i direktivet krav til risikostyring og generel robusthed. Det vil sige, at virksomheden skal bekæmpe og mindske risikoen for skade. Det nuværende NIS-direktiv, der bliver byttet ud med det nye, bestemmer, at de enheder, der er omfattet af direktivet, skal have rimelige regler og procedurer til sikring af cybersikkerheden.
Det nye direktiv supplerer med krav om visse sikkerhedstiltag, som en virksomhed som minimum skal have. Dette indebærer bl.a., at der skal være procedurer, som skal hjælpe med håndtering af hændelser. Det kunne f.eks. være et konkret cyberangreb.
Derudover skal organisationen havde generelle retningslinjer for at vurdere og analysere trusler mod cybersikkerheden. Hertil kommer endvidere, at den interne kommunikation, korrekt brug af kryptering, forsyningskæder mv. skal sikres i organisationen.
Direktivet indeholder også regler om sanktioner. Den primære sanktion mod organisationer, som ikke opfylder direktivets krav, vil være bødestraf.
Hvad er næste skridt, hvis din virksomhed er omfattet af direktivet?
Som virksomhed, der er omfattet af direktivet, er det for det første vigtigt, at man sætter sig ind i direktivets regler. Dette kan ske ved, at ledelsen inkorporerer de minimumskrav, der findes i direktivet. Derudover bør ledelsen danne sig et overblik over de nuværende tiltag, som sikrer cybersikkerheden i virksomheden, og hvordan disse kan bringes i overensstemmelse med de nye krav.
Medlemsstaterne skal implementere NIS2-direktivet senest den 17. oktober 2024.
Som med meget andet EU-retlig lovgivning kan kravene virke overskuelige og omfattende. Derfor kan det være nødvendigt at søge advokatbistand eller teknisk bistand, så man sikrer sig, at kravene i direktivet efterleves.
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On the 22 of March 2023 the Commission adopted a proposal on rules to promote the repair of goods.
Historically, replacement has often been prioritised over repair whenever products became defective. The new proposal will make it easier and more cost-effective for consumers to get their defective products repaired as opposed to replacing them.
The proposal introduces a new right to repair' for consumers, both within and beyond the legal guarantee period.
Within the legal guarantee period, sellers will be required to offer repair except when it is more expensive than replacement.
Beyond the legal guarantee period, a new set of rights will be available to consumers to make repair' an easy and accessible option.
The proposal is part of the European Commission's broader goal of becoming the first climate neutral continent by 2050. From an environmental perspective, repair is seen as an important element of a circular economy, as it can slow down the use of resources and the flow of materials and this, in turn, can mean fewer greenhouse gas emissions and less waste. According to the Commission, discarded products are often viable goods that could be repaired but instead are thrown out prematurely, resulting in 35 million tons of waste, 30 million tons of resources and 261 million tons of greenhouse gas emissions in the EU every year. The Commission also estimates that the loss for consumers of opting for replacement instead of repair is almost EUR 12 billion per year.
The Commission's proposal has still to be adopted by the European Parliament and the Council and the final form of the directive has still to be decided.