Daily tax report: International
June 21, 2021, 5:00 a.m.
The Danish Official Gazette published Law No. 1284 on June 17th, which implements changes to the Income Tax Law. The Act includes the following measures: 1) Explanation of the calculation of personal income, capital income, stock income and income from controlled foreign corporations (CFC) for tax purposes; 2) Clarification of the calculation of income taxes, health insurance contributions and personal allowances; 3) the personal exemption limit for fully taxable individuals in Denmark is set at 42,000 Danish kroner (6,746 USD); 4) Explanation of the application of personal allowances under the withholding tax regulations; and 5) Clarification of the offsetting and carryforward rules for negative taxable income. The law applies to income …
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