The new Danish Holiday Act makes drastic changes to the holiday entitlement scheme for employees in Denmark.
On September 21, 2017, the European Commission (EC) released a paper on the fair taxation of the digital economy.
On May 17, 2017, the Danish parliament adopted various measures to avoid international tax evasion.
Two Danish court rulings have recently been published concerning the penalties for failing to provide transfer pricing documentation when demanded by the tax authority.
The European Commission recently released its proposals to relaunch the common consolidated corporate tax base (CCCTB) initiative.
Payments of dividends to non-resident companies in Denmark will be subject to withholding tax at the rate of 27% of the gross amount. However, the recipient may request a refund in the amount of 5%, reducing the net withholding tax rate to 22%.
For non-EU/EEA workers, access to the Danish job market has been possible through two separate routes – the green card scheme and the pay limit scheme. Effective June 10, Denmark has repealed the green card scheme, citing issues with the quality of workers that have entered under the scheme. The change has an impact on Danish employers, making it more difficult to hire non-EU/EEA workers.
Effective July 1, 2016, employers can distribute shares to their employees up to a value of 10% of their annual salary. The scheme, called a 7P scheme, can be established by a written agreement between the employee and the employer with tax levied only at the point of sale based on capital gains rather than income tax.
Achieving a balance in the area of family leave is critical for multinationals. HR leaders should ask themselves: How can we develop family friendly leave policies that comply with local labor laws and customs, and encourage a healthy work-life balance, all while ensuring that our growing business remains financially sustainable?
A recent case in Denmark involves an employee who downloaded an app on his work phone and used it to purchase personal train tickets. As a result, he was terminated by his employer. Later, the Denmark Supreme Court ruled that the termination was legitimate. The ruling is surprising given that the employer did not have a clear policy on the proper use of work phones.
It can be challenging to wade through the ever increasing number of podcasts that are available on related websites or through outlets like iTunes, Stitcher or SoundCloud. For those working in international business, I recommend the five podcasts below. They’re free and cover a wide array of topics, from finance to geopolitics to global cultural trends.
The Danish government is considering a bill which will change the tax position on employee stock options where they will only be taxed at sale and with a maximum tax rate of 42% rather than the maximum 52% tax applied to salaries.