The Danish Ministry of Taxation has issued a Release announcing the extension of payment deadlines for wage tax, labor market contributions, and VAT, in order to improve liquidity during the COVID-19 crisis and secure Danish jobs. This includes a phased approach in returning to standard deadlines.
With respect to wage tax and labor market contributions, the payment deadlines for August, September, and October 2020 are extended by 4½, 5½, and 6½ months, respectively. With respect to VAT, the payment deadlines for large companies are extended by 15 days for the July settlement and 7 days for the August settlement. For medium-sized companies, the third and fourth quarter VAT periods are combined, with an extended payment deadline of 1 March 2021.
Further to the payment deadline extensions, the release also notes relief measures being provided in relation to expatriate tax scheme and other schemes for individuals that been impacted by travel and work restrictions due to COVID-19. The measures ease the requirements for the taxation of the special groups from 9 March to 30 June 2020.
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