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Danish Government Announces Proposals for 2021 Finance Law

03 September 2020

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Proposed Changes

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Denmark

The Danish government has announced its proposal for the Finance (Budget) Law for 2021. Proposals include: The introduction of a special corporate tax rate for the financial sector; The introduction of a cap on the deductibility of wage costs for wages exceeding DKK 10 million; An increase in the individual income tax rate on share income from 42% to 45% The cancelation of plans to increase certain taxes, including the chocolate tax, consumption tax, coffee tax, tax on tap water, and tax on incandescent light bulbs; and The postponement of increase in energy taxes until 2023, which was previously agreed...