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.
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.
As the International Accounting Standards Board (IASB) meets today (22 July 2015) to discuss the 2017 implementation date for new global revenue recognition rules, Grant Thornton is asking the accounting board to delay implementation, as a global business survey finds that many businesses are not expecting to be ready by 2017.
In light of growing international interest and scrutiny of corporate practices we set out to explore how three major aspects of governance – the role of culture, board composition and strategic planning – are affecting businesses around the world.
Although some see International Financial Reporting Standards (IFRS) as a regulatory burden, the evidence suggests that global standards actually oil and accelerate the wheels of global economic growth. Andrew Watchman explains.
Before Greece’s 'No' vote on Sunday, business optimism in Europe had surged ahead to its highest level in five years, despite the ongoing uncertainty over the future of Greece and its continued membership of the single currency.
At the G20 summit in Australia last November, global leaders reaffirmed a commitment they made in 2010 to tackle the negative impact of corruption on economic growth, trade and development. In this roundtable debate, Grant Thornton partners from Brazil, India and South Africa discuss how businesses can behave in an ethical manner and thrive, in spite of corrupt practices.
IFRS News is your quarterly update on all things relating to International Financial Reporting Standards. We’ll bring you up to speed on topical issues, provide comment and points of view and give you a summary of any significant developments.
Low productivity growth is a concern for policymakers across the globe. Steve Perkins, global leader for technology, says boosting R&D is the way to compensate for ageing populations and slower employment growth.
Rising labour costs and the quest for productivity are driving businesses to automate. Finding new roles for redundant workers will be the next challenge.
In the years leading up to the financial crisis, investors from developed economies poured money into emerging economies looking for big returns from in the world's fastest growing markets. But now investment is increasingly flowing from 'East' to 'West' as emerging markets slow, boosting the growth prospects of real estate and construction (REC) businesses in Europe and North America.
Giving up the CEO role is one of the toughest challenges an entrepreneur will face, but doing it successfully will help their business to grow. This article draws on experience of Swedish CEOs and advisers to help business leaders make the transition smoothly.
Companies outsource back-office business processes mainly to boost efficiency and reduce costs. Payroll, HR and accounting processes – the most common to be outsourced – are heavily transactional, and many companies determine that external specialists can execute these far more cost-effectively than they can themselves.
More businesses are spurred on by a ‘fear of missing out’ (known colloquially as ‘FOMO’) than by a positive desire for growth when expanding abroad, according to new research from Grant Thornton's International Business Report (IBR). Business leaders are a fifth more likely to expand when presented with a negatively framed scenario than with the exact same scenario that was framed positively.
Ed Nusbaum advises businesses not to forget the pain of the financial crisis: History will look back on the financial crisis that began in 2008 as a major shock to the global economy. IMF managing director, Christine Lagarde, has talked about the "scars" it left behind. Just as when a sportsman or woman suffers a severe injury, it takes time for economies to rediscover their best form.
Drawing on data and insight from the Grant Thornton International Business Report (IBR), the Grant Thornton Global Dynamism Index (GDI), the Economist Intelligence Unit (EIU) and the International Monetary Fund (IMF), this short report considers the outlook for Latin America in 2015
Established players in the hospitality and tourism sector are having to work harder than ever to find growth. A series of recent events have disrupted demand in the short-term, but longer term, the rise of the digital economy is threatening traditional operating models and sales channels. Businesses in the sector need to be alive to the challenges posed by online travel agencies and aggregators (OTAs), as they try to build their brand and maintain market share.
The European recovery is gaining momentum according to Grant Thornton's International Business Report (IBR). However, drawing on interviews with more than 1,100 regional executives, the report uncovers a number of threats, from Greek debt negotiations to high unemployment, which continue to undermine European stability and long-term business growth prospects.