Payment deadlines for VAT

VAT large companies - monthly settlement companies

Settlement period Previous reporting and payment date New reporting and payment time
March 2020 April 27, 2020 May 25, 2020
April 2020 May 25, 2020 June 25, 2020
May 2020 June 25, 2020 July 27. 2020

 

VAT medium-sized companies - quarterly settling companies

Settlement period Previous reporting and payment date New reporting and payment time
1st quarter 2020 June 2, 2020 September 1, 2020
2nd quarter 2020 September 1, 2020 September 1, 2020

 

VAT small companies - half-yearly settling companies

Settlement period Previous reporting and payment date New reporting and payment time
1st half of 2020 September 1, 2020 March 1, 2021
2nd half of 2020 March 1, 2021 March 1, 2021

 

Reporting deadlines

The reporting deadlines have been changed so that they follow the payment deadlines.
Negative VAT can be reported after the end of the settlement period, and will be paid as before.

Consider changes to Tax Account

The tax account provides access to raise the payout limit so that the company can have up to DKK 10,000,000 standing on the tax account. The purpose of raising the limit is that the company thereby avoids getting the money back.

If the taxpayer wishes to raise the payment limit on the Tax Account, you must raise it on the Tax Account yourself.

Payment can be made after the previous deadlines if the company does not want to have the money in its own bank accounts at a possible negative interest rate.

The Danish Tax Agency states that no day-to-day interest is accrued as the payment deadline has been moved.

Reminders from the Danish Tax Agency

The Danish Tax Agency states that if you receive a reminder of one of the original deadlines, please disregard it.

At RSM Denmark, we are ready to help you with your questions. You are welcome to contact us for a free and non-binding discussion.