Doing business in Denmark gives an introduction to those considering conducting business in Denmark, either by establishing a company or a branch or in other ways.
Expanding into new international markets can be challenging due to the many issues to consider and resolve. Our "Unlock Denmark" service aims to assure that you get professional support every step of the way to your new venture. From finding the best location to setting up a branch or a subsidiary - we are fully committed to your success.
Doing business in Denmark gives an introduction to those considering conducting business in Denmark, either by establishing a company or a branch or in other ways.
Grant Thornton welcomes more than 200 new employees and nine offices when the Jutland audit house Kvist & Jensen merges with Grant Thornton later this year. At the same time, National Revision Godkendte Revisorer will be part of the new Grant Thornton as they, prior to the merger agreement, becomes part of Kvist & Jensen. Thus, Grant Thornton consolidates its market positions in all Denmark.
New Bookkeeping Act: Companies must use a digital bookkeeping system that meets a number of general requirements. Read more ...
11 Jan 2023
Sustainability
We are pleased to share a summary of the IFRS Foundations update on the International Sustainability Standards Board (ISSB) progress toward their objectives.
For mid-market businesses, navigating the environmental, social and governance (ESG) landscape is a complex challenge, and their approach will depend on size, maturity, sector – and the priorities of stakeholders.
Unused vacation days exceeding five days as of 31 December 2021 are lost by the employee and the employer have to pay the equivalent amount to AFF Vacation Fund. We recommend that employer follows up on unused vacation asap and action be taken if relevant.
The Schrems II ruling has brought new requirements for transfer of personal data to non-secure third countries outside of the EU. In the light of the ruling, the European Data Protection Board (EDPB) has published recommendations on necessary actions in order to comply with the new requirements. The recommendations were definitively approved and published on 18 June 2021.
The Danish Parliament has passed L 28 (2020/21) and thus changed the requirements to when filing must be made of Transfer Pricing (TP)-documentation. With effect from and including the income year 2021, TP-documentation must be filed annually to the Danish Tax Agency if you are covered by the rules.
The rules will have a significant impact on foreign employers who hire out their employees to Swedish companies and organizations. The foreign employees are also affected as they will in general be taxed from day 1 in Sweden (with no 183 day exemption) where a Swedish company or organization is considered to be the economic employer.
On 1 September 2020, the new Danish Holiday Act entered into force. The main new principle is that as from 1 September 2020, employees (with paid salary during vacation) earn the right to take paid vacation days as they earn them, i.e. 2.08 days per month equaling 25 days per year.
Get an overview of the Government’s actions in relation to the coronavirus-crisis in this guide, especially made for companies that are affected by COVID-19.
The spread of the Coronavirus is impacting businesses around the world. Entities need to carefully consider the accounting implications of this situation. This IFRS Alert considers the impact of the Coronavirus on 31 December 2019 year ends.
The Danish Government and the social partners have entered into an agreement regarding salary compensation to the companies in order to maintain the employees’ employment in the companies during the present tough times with Corona / COVID-19.
We have a responsibility of reducing the COVID-19 infection. Thus, in Grant Thornton we have initiated a number of precautions to take care of our employees but also the rest of Denmark. At any time, we will follow the Danish Government’s recommendations, and this may potentially affect the operation of our firm as we know it.
To succeed in the B2B sharing economy, businesses need to understand what drives customers who are willing to use crowdsourced and automated services LiquidSpace specialises in renting out spare office space in existing businesses by the hour, the month or longer. Users can hire space via the company’s app and be sitting in a business’s boardroom within minutes. They can add their own office space to the inventory too.
New research from Grant Thornton reveals that cyber attacks are taking a serious toll on business, with the total cost of attacks globally estimated to be at least US$315bn* over the past 12 months. The Grant Thornton International Business Report (IBR), a global survey of 2,500 business leaders in 35 economies, reveals that more than one in six businesses surveyed faced a cyber attack in the past year. With high-profile security breaches and hacks becoming more prevalent, nearly half of firms are putting themselves in the firing line with no comprehensive strategy to prevent digital crime.
More and more fiscal authorities continue to develop their transfer pricing laws. The principles are common, although interpretations differ from one tax authority to another.
Globalisation is accelerating. While businesses are looking to unlock new revenue streams and governments are encouraging economic diversification, the increased connectivity of the digital age is lowering barriers to entry, opening up more international growth opportunities for dynamic businesses.
Soft power and gut instinct is driving an estimated US$250bn per year in overseas real estate investment, showing that feeling rather than data analysis determines many investment decisions.
The preparation of financial statements in accordance with IFRS is challenging. Each year the requirements are changing as a result of new standards or amendments that become effective. These changes have the potential to significantly impact both the presentation of the primary statements and the accompanying disclosures. This illustrative set of example financial statements demonstrates good practice in the application of the presentation and disclosure requirements of IFRS for year-end reporters. It reflects changes in IFRS that are effective for the year ending 31 December 2015.
Choosing the right leader for your business is fundamental to its long-term success. So why are so many family firms not planning for succession effectively?
Aston Manor Cider, one of the world’s largest independent cider producers, is no stranger to the export market. The UK-based company’s specialty beverage is available in more than 20 countries including the USA, Russia and a number of African nations
The hospitality and tourism industry is hotwired into the global economy; how businesses in the sector prepare for and respond to economic shocks is critical to long-term growth prospects.
Three quarters of business leaders would pay more taxes in exchange for greater clarity from authorities on what is acceptable. And while few expect a global agreement any time soon, the majority would like to see their governments take unilateral action to help achieve this aim.
As growth in output and demand in Southeast Asia continue to accelerate, where to base your business and locate key functions within the region is high on the corporate agenda.
Relocation and restructuring can deliver significant commercial, operational and tax benefits and it isn’t just large multinationals who are on the move.
The slump in oil prices has its winners and losers. Jim Menzies, global leader for the food and beverage sector at Grant Thornton, says the outlook is good for food and beverage companies. While Linda Beal global leader for the oil and gas sector at Grant Thornton, says, oil and gas companies are facing significant challenges.