GLOBAL INDIRECT TAX. Denmark. Country VAT/GST Essentials. kpmg.com TAX

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1 GLOBAL INDIRECT TAX Denmark Country VAT/GST Essentials kpmg.com TAX

2 b Denmark: Country VAT/GST Essentials

3 Denmark: Country VAT/GST Essentials Contents Scope and Rates 2 What supplies are liable to VAT? 2 What is the standard rate of VAT? 2 Are there any reduced rates, zero rates, or exemptions? 2 Registration 4 Who is required to register for Danish VAT? 4 Are there penalties for not registering or late registration? 4 Are there any simplifications that could avoid the need for an overseas company to register for VAT? 5 VAT Grouping 5 Is VAT grouping possible? 5 Can an overseas company be included in a VAT group? 5 Returns 6 How frequently are VAT returns submitted? 6 Are there any other returns that need to be submitted? 6 VAT Recovery 7 Can I recover VAT if I am not registered? 7 Does your country apply reciprocity rules for reclaims submitted by non-established businesses? 7 Are there any items that you cannot recover VAT on? 7 Invoices 10 What do I have to show on a tax invoice? 10 Can I issue invoices electronically? 10 Is it possible to operate self-billing? 10 Transfers of Business 11 Is there a relief from VAT for the sale of a business as a going concern? 11 Options to Tax 11 Are there any options to tax transactions? 11 Head Office and Branch Transactions 12 How are transactions between head office and branch treated? 12 Bad Debt 12 Am I able to claim relief for bad debts? 12 Anti-Avoidance 13 Is there a general anti-avoidance provision under VAT law? 13 Penalty Regime 13 What is the penalty and interest regime like? 13 International Supplies of Goods and Services 8 How are exports of goods and services treated? 8 How are goods dealt with on importation? 9 How are services which are brought in from abroad treated for VAT purposes? 9 All information reflected in this document was obtained/summarized from KPMG in Denmark as of October 2011.

4 2 Denmark: Country VAT/GST Essentials Scope and Rates What supplies are liable to VAT? Value-added tax (VAT) is due on any supply of goods or services made in Denmark, where it is a taxable supply made by a taxable person in the course or furtherance of a business carried on by said person. Supply includes all forms of supply. Supply does not include anything done otherwise than for a consideration. However, certain actions carried out for no consideration are deemed to be supplies; for example giving business gifts and private use of business assets if VAT has been deducted when purchasing or manufacturing the gifts. What is the standard rate of VAT? The standard rate of VAT is 25 percent. Are there any reduced rates, zero rates, or exemptions? Yes. There is an extensive list of zero rated supplies, including: Newspapers. The sale and hire of ships with a gross tonnage of 5 tons or gross registered tonnage of 5 tons or more with the exemption of pleasure boats. Repair, maintenance, and installation work performed on ships with a gross tonnage of 5 tons or gross registered tonnage of 5 tons or more with the exemption of pleasure boats. Necessary equipment supplied for the use in ships in foreign trade and services performed for such ships. The supply of provisions and other necessities to ships to be used on board or as sales to the passengers in accordance with the Danish Customs Act; c.f. the EC customs regulations. The sale and hire of aircrafts used by airlines predominantly operating internationally (more than 55 percent based on turnover and number of kilometers flown). The Danish tax authorities hold a list of airlines operating internationally. Repair, maintenance, and installation work performed on aircrafts used by airlines predominantly operating internationally (more than 55 percent based on turnover and number of kilometers flown). Necessary equipment, repair, and maintenance of this equipment used by airlines predominantly operating internationally (more than 55 percent based on turnover and number of kilometers flown). Services performed for aircrafts used by airlines predominantly operating internationally (more than 55 percent based on turnover and number of kilometers flown) and its cargo. The supply of fuel provisions and other necessities used by airlines predominantly operating internationally (more than 55 percent based on turnover and number of kilometers flown). The sale and hire of aircrafts to state institutions, including the Danish Defense, and repair, maintenance, etc., of these aircrafts. Exports.

5 Denmark: Country VAT/GST Essentials 3 The list of exemptions includes: health social welfare education subscriptions to trade unions and other public interest bodies non-profit sport, sports competitions, and physical education some cultural activities (admission to museums, exhibitions, zoos, and performances of a cultural nature supplied by public bodies and eligible bodies) literary, compositional, and other artistic activities real Estate Rental and leasing of real estate. However, the exemption does not cover hotel rooms, parking lots or where landlords have voluntarily VAT registered for the letting of real estate. With effect from 1 January 2011, commercial sales of new buildings, new buildings with ancillary land or building sites are subject to VAT. With effect from 1 January 2011, property management, such as accounting of payments and receipts of property, is subject to VAT. insurance finance betting, gaming, and lotteries certain postal services passenger transport. However, the exemption does not cover transport of tourists by bus travel agencies From 1 January 2011, the services provided by travel agencies are liable to VAT. Travel agencies subject to VAT after the repeal of the former VAT exemption act, may apply for reimbursement of input VAT on expenditure necessary to purchase the alignment of IT equipment and software, consulting etc., which are incurred before 1 January 2011, when the supplies are taxable. Request for reimbursement has to be submitted no later than with the declaration for the VAT period ending on 30 June burial and cremation fund-raising events by charities and other qualifying bodies second-hand shops supplying only used clothes and other goods received as a gift on the condition that the sales persons do not receive salary or wages services supplied by independent groups to members in certain conditions investment gold goods and services supplied by charitable or in other ways non-profit associations and organizations in certain conditions. In general, it is not possible to recover VAT incurred in making exempt supplies.

6 4 Denmark: Country VAT/GST Essentials Registration Who is required to register for Danish VAT? Danish Entities If your business makes taxable supplies in Denmark over the VAT registration threshold (DKK50,000), you will be required to register and account for Danish VAT. If you trade below the registration threshold, you can still choose to register for VAT. The business will receive a certificate of registration with the VAT registration number, etc., from the tax authorities. In addition, the business will receive a special PIN code by separate letter. The VAT registration number and the PIN code are the company s access to declare and pay VAT electronically. A VAT registration number is normally issued within two to three weeks. Non-Danish Entities The registration rules that apply to Danish entities also apply to foreign taxable persons which are making taxable supplies in Denmark. However, there is no minimum VAT registration threshold for businesses not established in Denmark. If your business is not registered for VAT in Denmark, but sells and delivers goods from another European Union (EU) Member State to private customers in Denmark (distance sales), where the value of those sales exceeds a threshold of DKK280,000 per year, your business is required to register and account for VAT in Denmark. Access the registration form on the Danish tax authorities (SKAT) and the Danish Commerce and Companies Agency s Web sites Startblanketten_momsregistrering_mv this form is only available in Danish and as an online form); if you wish to register voluntarily and tax the letting or sales of real estate, you must use a special form to apply for this. The form can be found on the Danish tax authorities (SKAT) and the Danish Commerce and Companies Agency s Web site: Registration of Non-Danish Company Services in Denmark From 1 May 2008, all non-resident foreign companies which provide services in Denmark and station employees in Denmark must be registered in the Danish Register for Foreign Service Providers. Access the registration form on the Danish tax authorities (SKAT) and the Danish Commerce and Companies Agency s commercial Web sites: of_non-danish_company Start_-_40112/ af_udenlandske_tjenesteydere_rut Registration_of_ Foreign_Services_RUT Please note that this form must and can only be used by foreign companies which are already registered for VAT in Denmark or which are not obliged to register for VAT in Denmark. Are there penalties for not registering or late registration? Businesses can receive a fine for late registration; however, in many cases the tax authorities do not claim late registration fines. Only in case of abuse or unwillingness to register and pay Danish VAT are penalties charged.

7 Denmark: Country VAT/GST Essentials 5 VAT Grouping Are there any simplifications that could avoid the need for an overseas company to register for VAT? If your business makes supplies of goods or services in Denmark, then you are required to register and account for Danish VAT. However, it is possible to avoid registering and accounting for Danish VAT when making certain supplies. In the following examples, the obligation to account for the VAT due is shifted to your customer, provided that your customer is registered for Danish VAT. Triangulation In a triangulation trade where a company from an EU member state acts as the middleman in the supply of goods to a Danish customer, the VAT due is accounted for by the customer. Is VAT grouping possible? Yes. Companies carrying out fully VAT liable activities can group register regardless of whether they are legally connected. Businesses that carry out both taxable and exempt activities may only be grouped if one of the companies directly or indirectly fully owns the other companies to be included in the group. Can an overseas company be included in a VAT group? No. Only via a foreign established branch in Denmark. For a description of the triangulation scheme, please see section What rules must be complied with in order for the triangulation simplification to be applied? Call-Off Stock No simplification provisions apply. Capital Items No simplification provisions apply. Supply and Install If your business supplies goods and installs or assembles them in Denmark, your customer accounts for any VAT due, in effect, as an acquisition. Reverse Charge Services These services are covered in more detail in section International Supplies of Goods and Services. Bear in mind that these provisions are subject to particular requirements and so you should check carefully whether you comply with them.

8 6 Denmark: Country VAT/GST Essentials Returns How frequently are VAT returns submitted? Registered businesses are required to submit VAT returns on a monthly, quarterly or bi-annual basis depending on their taxable turnover. Businesses with an annual turnover exceeding DKK15 million must submit VAT returns on a monthly basis. Businesses with an annual turnover of between DKK1 million and DKK15 million must submit VAT returns on a quarterly basis. Businesses with an annual turnover below DKK1 million must submit VAT returns on a bi-annual basis. New businesses registered for VAT must submit VAT returns on a quarterly basis, unless the expected annual turnover exceeds DKK20 million. Businesses which according to their turnover are required to submit VAT returns on a quarterly or biannual basis can apply to use the month or quarter as their VAT period. Are there any other returns that need to be submitted? European Sales List (ESL) If your business supplies goods which are shipped from Denmark or services subjected to reverse charge to VAT registered businesses in other EU Member States, you are required to complete ESLs. ESLs have to be completed monthly from periods started 1 July Intrastat Supplementary Declarations VAT registered businesses with a value of dispatches or arrivals to or from other EU Member States which exceed a threshold of DKK3,600,000 for arrivals and DKK4,200,000 for dispatches per calendar year must complete supplementary declarations each month. Failure to submit Intrastat declarations on time may result in a penalty of DKK550. Failure to submit VAT returns on time will result in a penalty of DKK800 and penalty interest of 0.9 percent per month. If your business receives a reminder, a collection fee of DKK65 is payable.

9 Denmark: Country VAT/GST Essentials 7 VAT Recovery Can I recover VAT if I am not registered? Yes. If you are established in another EU Member State, then you should make a claim under Directive 2008/9/EEC. If you are a non-eu business, you should recover the VAT under the 13th Directive. EU companies must apply for the refund via the authorities in their home country. This is done electronically. Non-EU companies must complete and submit a paper form. The claim forms are available on the Danish customs and tax authorities Web site: A supplement form can be found at the Web site: Does your country apply reciprocity rules for reclaims submitted by non-established businesses? No. Are there any items that you cannot recover VAT on? Yes. There are certain items that you cannot recover VAT on. For example: Exempt supplies: where VAT relates to both taxable and exempt supplies, you need to make an apportionment. Non-business (including private) activities: where VAT relates to both business and non-business activities, an apportionment is required. Motor cars (excluding commercial vehicles): with certain exceptions you cannot recover VAT on the purchase of a motor car (passenger cars). Business entertainment: VAT is not generally recoverable on business entertainment costs; however, 25 percent of the VAT incurred on restaurant costs and 50 percent of the VAT incurred on hotel accommodation costs is recoverable. Goods sold under one of the margin schemes for second-hand goods. There are a number of schemes which provide for VAT to be accounted for on the goods sales margin and do not allow VAT recovery on the purchase of those goods.

10 8 Denmark: Country VAT/GST Essentials International Supplies of Goods and Services How are exports of goods and services treated? Goods IIf you sell goods to a customer who is registered for VAT in another EU Member State and the sale involves the removal of those goods from Denmark (either by you or your customer) to an EU Member State, then the supply is zero-rated as an intra-eu dispatch. You must obtain your customer s VAT number and quote it on your invoice. You should also obtain evidence of the goods removal from Denmark. If you sell goods to a customer who is not registered for VAT in another EU Member State, you will have to charge Danish VAT. If your sales exceed a certain threshold for that Member State, you may have to register in the Member State under what is known as the Distance Selling Scheme. If you export goods to a customer (business or private) outside of the EU, then the supply is VAT exempt. You must obtain documentation that the goods have left the EU. Services If you are a Danish established business and supply services to a foreign business customer (B2B), in general the supply of services is taxable in the country of the recipient under the reverse charge mechanism. If you, however, supply services to a private consumer (B2C), the services are in general taxable in the country of the supplier and therefore subject to Danish VAT. The following exceptions apply to the B2B and B2C main rules as described above: Services involving real estate (taxable in the country where the real estate is located). However, B2B supply is subject to reverse charge. Restaurant and catering services (taxable in the country where these services are performed. Other rules apply if these services are performed on board a ship, aircraft, or train). Passenger transport (taxable in our country here the transport services are actually performed). Services with regard to cultural, artistic, sporting, scientific, educational, entertainment, and similar activities, along with the ancillary services (taxable in the country where those activities are physically carried out). With effect from 1 January 2011, this exception has applies to services performed for VAT entrepreneurs only with respect to admission to the aforementioned events and the appurtenant admission-related services. Short-term hiring of transportation vehicles (for ships maximum 90 days/for other means of transport maximum 30 days; taxable in the country where the vehicle is actually put at the disposal of the customer.

11 Denmark: Country VAT/GST Essentials 9 The following exceptions apply to the B2C main rule: Intermediary services (taxable in the country where the underlying transaction is taxable). Intra-Community transport of goods (taxable in the country of departure). For other types of goods transportation for non-taxable customers, the place of service is the place where the transportation is actually performed. Transportation-related services (taxable in the country where the services are physically carried out). Services involving movable tangible goods (taxable in the country where the activities are actually carried out). Services performed electronically by a VAT entrepreneur not established in the EU to non-taxable customers (taxable in the country where the customer of the service is located). The following services performed for non-taxable customers that are established or resident outside the EU are taxable in the country where the customer is established: The transfer of licenses and similar rights; advertising services; services performed by consultants, as well as dataprocessing and information-provision services; the obligation to refrain, in whole or in part, from pursuing a business activity; banking and insurance services; supply of staff; hiring out of movable property, with the exception of means of transport; operating natural gas and electricity-distribution systems; telecommunications services; radio and television broadcast services; and services performed electronically. How are goods dealt with on importation? When goods are imported into Denmark from outside the EU, import VAT and customs duty is due. Customs duties must be paid or secured before the goods will be released from customs control. Import VAT must be accounted for on the VAT return. How are services which are brought in from abroad treated for VAT purposes? If you buy certain services from outside Denmark, you are required to apply the reverse charge mechanism. Under the reverse charge mechanism you are required to account for output VAT on your VAT return covering the period in which you are invoiced and you recover this VAT as input tax on the same return. If you are able to recover all of your VAT, the reverse charge has no cost effect and is a VAT compliance matter only. However, if you are partly exempt, there is a VAT cost depending on the level of recovery allowed under your partial exemption method. The reverse charge applies to most services. However, the reverse charge does not apply to the following services: Services related to immovable property. This includes sale, renting of and work performed on immovable property, services provided by real estate agents, etc. Hotel accommodation. Transport of tourist by bus (other transport of persons are VAT exempted). Admission to activities within the areas of art, culture, sports, entertainment, education, science, etc. Services in relation to activities within the areas of art, culture, sports, entertainment, education, science, etc. The service will be subject to reverse charge when it is supplied to VAT taxable persons. Restaurant and catering services. Short-term renting of means of transportation. Short term is defined as maximum 30 days (for ships 90 days).

12 10 Denmark: Country VAT/GST Essentials Invoices What do I have to show on a tax invoice? A VAT invoice should as a main rule contain the following data: date of issue a sequential invoice number supplier VAT number supplier name and address customer name and address the quantity and nature of the goods/services supplied tax point (date of taxable supply) if fixed and different from the date of issue the taxable amount per rate unit price (exclusive of any VAT) rate of any discounts (if not included in the unit price and if applicable) the VAT rate applicable the amount of VAT payable in DKK or EUR. If the VAT amount is stated in another currency than DKK or EUR, the VAT amount in DKK or the exchange rate to DKK must be stated on the invoice. If you issue an invoice to a customer established in another EU member state, your invoice should contain the following data in addition to those outlined above for a domestic transaction: The VAT registration number including the two-letter country prefix. Information that the supply is VAT exempted by a reference to the relevant EU provision, relevant national provision or by other means, such as, VAT exempt, zerorated, and free of VAT. Information that the customer is likely to pay VAT by a reference to the relevant EU provision, the relevant Danish provision or just reverse charge. Can I issue invoices electronically? Yes. The invoice s authenticity of origin and the integrity of its contents must be ensured. Is it possible to operate self-billing? Yes, provided you have reached an agreement with your customer before doing so.

13 Denmark: Country VAT/GST Essentials 11 Transfers of Business Is there a relief from VAT for the sale of a business as a going concern? Yes. The transfer of a business (partly or in full) as a going concern is outside the scope of VAT. There are certain conditions which must be met, for example the purchaser must be registered for VAT in Denmark at the time of the transfer (or immediately register as a consequence of the transfer). Options to Tax Are there any options to tax transactions? There is an option to register voluntarily and tax the letting and selling of real estate. Once you have decided to use the option to tax, this decision cannot be revoked for two calendar years. In addition, companies under the registration threshold (DKK50,000) can register voluntarily and tax their supplies.

14 12 Denmark: Country VAT/GST Essentials Head Office and Branch Transactions How are transactions between head office and branch treated? If your head office makes a charge for services delivered to its branch or vice versa, this is not treated as a supply for Danish VAT purposes. However, Danish VAT must be accounted for on goods moved from a head office (or branch) in another EU Member State to the branch (or head office) in Denmark. Bad Debt Am I able to claim relief for bad debts? You are able to claim VAT back in full on established bad debts. There are special requirements to be fulfilled, cf. below. If you subsequently receive payment for the supply, then you will have to pay the VAT element to the tax authorities.

15 Denmark: Country VAT/GST Essentials 13 Anti-Avoidance Is there a general anti-avoidance provision under VAT law? No. However, the EU anti-avoidance principle is applicable under Danish law. Penalty Regime What is the penalty and interest regime like? Any person who does not meet the requirements of the Danish VAT legislation through gross negligence or deliberant intent may be subject to a fine, detention, or imprisonment for up to one year and one-half. Violation of the provisions of the Danish VAT legislation being very gross negligent in order to get unauthorized profit to oneself or others can be penalized with imprisonment for up to eight years. Fines are approximately twice the amount of VAT unpaid without any upper capping limit.

16 The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation KPMG International Cooperative ( KPMG International ), a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. All rights reserved. The KPMG name, logo and cutting through complexity are registered trademarks or trademarks of KPMG International. Designed by Evalueserve. Publication name: Denmark Country VAT/GST Essentials Publication number: Publication date: January 2012

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