Tax & Accounting Blog

Denmark Issues Guidance on Submitting Country-by-Country Reports

BEPS, Blog, Global Tax Planning, International Reporting & Compliance January 2, 2018

On December 21, 2017, Denmark’s tax authorities (SKAT) issued a press release on country-by-country (CbC) reporting. See BEPS Action 13.

Danish companies (ultimate parent or surrogate parent) that form part of a multinational group with a consolidated turnover of at least 5.6 billion kr. in the previous income year must submit a CbC report to SKAT for the income year commencing January 1, 2016 or later. The CbC report must be submitted no later than 12 months after the end of the income year. For most companies, the report must be submitted by December 31, 2017.

CbC reports must be submitted electronically to SKAT in an XML file format. The company’s CVR number and employee NemID must be used when submitting the report. Companies preparing the CbC report must complete Form 05.034 and submit the information to SKAT via “Submit data by email” at the bottom of the form.

Danish companies that form part of a multinational group for which a CbC report must be submitted must electronically submit a CbC reporting notification to SKAT. The company must state in the notice which group company will submit the CbC report and where this company is resident for tax purposes. The notification must be sent to SKAT before the end of the income year for which the CbC report relates. For companies subject to Danish joint taxation, only the management company must complete the notification form for the entire joint taxation process and send it to SKAT.

Click here for more information on our BEPS research and technology solutions to address your immediate and ongoing needs.