Bill on interest-free loans for reported A-tax, etc.

The Minister of Taxation has submitted a bill on interest-free loans corresponding to reported A-tax and AM contributions as well as deferral of payment deadline for registration tax on motor vehicles in connection with COVID-19. The bill is expected to be passed in the Folketing on 26 January 2021.

Bill on loans for payment of A-tax and AM-contributions (L 139)

It is proposed that companies covered by section 2 (1) of the Collection Act. 5, ie small and medium-sized enterprises, at the request of the Danish Tax Agency may be paid an amount corresponding to the amount reported by the company in a timely manner as containing A-tax and AM contribution for the settlement periods August and December 2020, as an interest-free loan , to be repaid by November 1, 2021.

It is expected that the first loans can be disbursed from the beginning of February 2021. The disbursement will normally, as far as possible, take place within 5 banking days of receipt of the loan request. The amount is paid to the Tax Account.

A refusal to apply for such loans cannot be appealed.

The bill is expected to be passed in the Folketing on 26 January 2021.

As this is state aid, the European Commission must approve the loan scheme. However, the Ministry of Taxation has been in constant contact with the Commission in this regard, which is why a speedy approval is expected.

Bill on postponement of payment deadline for registration tax (L 139)

For companies registered under the Registration Tax Act, it is proposed that the payment deadline for the tax period March 2021 be postponed to 15 November 2021.

The bill is expected to be passed in the Folketing on 26 January 2021. 

 

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