November 2019

Get the most out of your tax payments


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

Get nuts enough

November, 2019.


Yes, I mean it, dear business owners and nut lovers. Christmas is coming, and if you are planning to buy nuts, just get enough for the holiday season. Because from the 1stof January, 2020, nuts will be cheaper, due to the abolition of duty on nuts.

Right now, excise tax is highest on processed nuts and lowest on raw nuts. The most popular shelled nuts are duty free, except for shelled almonds and peanuts.

Tax on nuts in 2019

Category

Excise tax per kg in DKK

Raw cashew nuts, almonds, apricot/peach kernels, and cacao beans

14,57

Processed cashew nuts, almonds, and apricot/peach kernels

17,44

Shelled almonds

7,33

Raw and processed para nuts and walnuts, pistachio nuts, and pecan nuts


Cacao bean shell, by-products of cacao production and from oil production of duty imposed nuts, unless they are not intended for human consumption


Raw hazelnuts

9,71

Processed hazelnuts

11,65

Shelled hazelnuts

Raw peanuts

4,87

Processed peanuts

5,80

Shelled peanuts
Raw and processed coconut meat

2,90

Coconuts

2,90

Other nuts and kernels

11,04

Source: Skat.dk

The duty was imposed in 1922 to control the private production of marzipan, a popular sweet in Denmark. It became unpopular due to the 20th century’s focus on health and wellness. Nuts are healthy, and they are an important source of nutrients for vegans. During the last few years, the government has been under pressure to reduce and abolish the tax levies on nuts. Most notably is the movement Knæk Afgiften, started by Mads Lønnberg, a nuts importer in Copenhagen (read the whole story in Danish here).


Thank to Mads, we are possibly going to enjoy the benefit of cheaper nuts from the New Year 2020. I say "possibly", because it depends on the retailers’ decision on pricing for nuts. They may keep all the deduction to themselves, run the business as usual; or they may bypass it to the byers by lowering the price. At least, you know now how much you can bargain on nuts.