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Denmark Announces Green Tax Reform Plans

The Danish Ministry of Taxation has announced the government's plans for the first phase of green tax reform as part of efforts to reduce emissions by 70% by 2030. Planned measures of the reform include:

  • An increase in the energy tax by DKK 6 per gigajoule (GJ) for all businesses, resulting in the following rates:
    • DKK 10.5 per GJ for businesses in general (up from DKK 4.5);
    • DKK 7.5 per GJ for businesses in the agriculture and horticulture industry (up from DKK 1.5); and
    • DKK 6.0 per GJ for businesses in the mineralogical industry (currently exempt);
  • Measures to support investment, including:
    • an increase in the immediate (full) depreciation limit from DKK 14,100 to DKK 30,000; and
    • a 16% increase in the depreciation basis until the end of 2022, e.g., an acquisition cost of DKK 100,000 may be treated as 116,000 for depreciation purposes.

The energy tax increases would be phased in from 2023 to 2025, while the measures for investment would generally apply from 2021.

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