• Service: Tax, Global Compliance Management Services, International Tax
  • Type: Regulatory update
  • Date: 3/12/2013

Denmark - First installment due 20 March; match estimated payments  

March 12: Corporations must remit the first installment of income tax for the 2013 tax year by 20 March 2013. The second installment is due 20 November 2013.

With this approaching deadline, corporations will want to consider whether this year's estimated (advance) payments of tax match the taxable income projected for the 2013 income year.

Any excess / overpayment of tax for 2012 may be used to the extent possible to satisfy the tax liability for 2013. Taxpayers must indicate use of an overpayment on their annual return for the 2012 income year.

Alternatively, taxpayers may make a “voluntary payment” of tax for the 2013 tax year by 20 March 2013 or no later than 20 November 2013. Accruals of any related interest need to be considered.

Also, if in 2013, the taxpayer receives taxable dividends from a Danish company, any withholding tax on such dividends is to be considered with respect to 2013 payments of tax.

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