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Danish Implementation of the OECD Global Minimum Tax
Fighting the „race-to-the-bottom“ through Complex Legislation
In the article, the author elucidates Denmark’s implementation of the EU Minimum Tax Directive. Furthermore, the legal foundation and justification for the rules are examined, and complex questions regarding application and interpretation are addressed. Finally, the author underscores various peculiarities and concerns associated with the Danish implementation.
I. Legal Foundation and Justification
By adopting Law no. 1535 of December 12, 2023 [the Minimum Tax Act - hereinafter the „MTA“], the Danish Parliament implemented the EU Minimum Tax Directive [hereinafter the „MTD“] into Danish Law. Hereby, Denmark introduced three new rules to the Danish tax regime: The Income Inclusion Rule (hereinafter the „IIR“), the Under-Taxed Profits Rule (hereinafter the „UTPR“), and the Qualified Domestic Minimum Top-up Tax (hereinafter the „QDMTT“). The MTA entered into effect on December 31, 2023, and as a main rule the IIR and the QDMTT should be applied for financial years commencing on or after December 31, 2023, while the UTPR should be applied for financial years commencing on or after December 31, 2024.
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As a member state of the European Union, Denmark was obligated to implement the ...