September 2018

We are not only doing accounting

We are hunting for tax deductions

The purpose of this blog is to provide a reliable source of business, tax, and accounting information. English is the chosen language to ensure coverage for Danish and non-Danish readers. 

Get the most out of your tax deductions

September 2018.


Denmark is often cited as the country with one of the highest tax rates in the world, with up to 52,02% of personal income. How can the Danes afford expensive cars, throw away usable electronic equipment, and pay thousands of kroner for a blouse? The answer is tax deductions.

If you pay tax on personal income, you have the right to claim:

 

  1. Personal tax deduction of DKK. 46.000 (2018)
  2. Tax deduction for working and paying tax
  3. Tax deduction for your spouse, if she/he is not working and paying tax
  4. Tax deduction for membership payment to your union
  5. Tax deduction for membership payment to your unemployment fund
  6. Tax deduction for contributions to charities and NGOs
  7. Tax deduction for long travelling between home and work
  8. Tax deduction for long travelling between home in remote areas and work
  9. Tax deduction for working expenses: travel, hotel stay, food, etc.
  10. Tax deduction for renovating your home to be more environmentally friendly
  11. Tax deduction for gifts given to your local sport or cultural club

           …

And the list goes on. But you get the point: there are simply many tax deductions out there. You just have to spot where they are.