Running a business in Denmark means operating within one of the most efficient and digitally advanced administrative systems in the world. While Denmark offers a business-friendly environment, it also comes with strict rules and deadlines—especially when it comes to accounting and reporting. Failing to meet these deadlines can result in fines, interest charges, or administrative issues. Whether you’re managing a sole proprietorship, a small ApS, or a growing enterprise, staying on top of key accounting deadlines is critical for ensuring compliance and avoiding unnecessary stress. This article outlines the most important accounting dates for companies operating in Denmark and provides guidance on how to meet them.
VAT Reporting Deadlines
If your company is registered for VAT (moms), you are required to file VAT returns through the Danish Tax Agency’s online portal, TastSelv Erhverv. The frequency of your VAT submissions depends on your company’s annual turnover:
- Monthly: Required if your business has an annual turnover exceeding 50 million DKK.
- Quarterly: Standard for businesses with turnover between 5 and 50 million DKK.
- Semi-annually: Permitted for businesses with turnover below 5 million DKK.
Key deadlines:
- Monthly: Submit and pay by the 25th of the following month.
- Quarterly: Submit and pay by the 1st of the second month after the quarter ends.
- Semi-annually: Submit and pay by March 1st and September 1st.
These deadlines apply to both the submission of your VAT return and payment of any VAT owed. Missing these deadlines can lead to fines or penalties, so setting reminders and automating calculations in your accounting system is essential.
Corporate Income Tax Deadlines
Companies in Denmark are required to file an annual corporate income tax return (selvangivelse), reporting their financial results for the previous fiscal year. The tax year typically follows the calendar year, but businesses can apply for a different financial year if needed.
Key deadlines:
- The annual tax return (Form 201) must be submitted no later than six months after the end of the financial year.
- Preliminary tax payments are made in two instalments:
- March 20th
- November 20th
- Companies can also make voluntary supplementary payments by February 1st of the following year to avoid interest on underpaid tax.
All returns and payments are made through the TastSelv Erhverv portal. Keep in mind that errors or delays in tax payments can lead to surcharges and additional scrutiny from SKAT (the Danish Tax Agency).
Annual Financial Statements (ApS and A/S)
If your company is a private limited company (ApS) or a public limited company (A/S), you are required to prepare and file annual financial statements with the Danish Business Authority (Erhvervsstyrelsen).
Key deadlines:
- The financial statements must be filed within five months after the end of the company’s financial year.
- For most companies using the calendar year, this means the deadline is May 31st.
The submitted reports must include:
- A balance sheet
- A profit and loss statement
- Explanatory notes
- A management report (depending on company size)
Larger companies may also require an auditor’s statement, which means preparing and reviewing the accounts early is essential.
Employee Payroll and Tax Reporting
If your company employs staff, there are strict monthly deadlines for reporting payroll data to SKAT. All information is reported through the eIndkomst system.
Key deadlines:
- You must report payroll details no later than the 10th of the following month after salary is paid.
- You must withhold and remit income taxes, ATP contributions, and any other statutory employer contributions by the same deadline.
Additionally, employers are responsible for handling:
- Holiday pay contributions (via FerieKonto)
- Labour market pension contributions
- Occupational injury insurance premiums
Missing payroll deadlines can result in penalties and affect employee rights, including vacation entitlements and pension coverage.
Digital Bookkeeping Compliance (Effective from 2024)
As of 2024, Danish law requires most companies to use digital bookkeeping systems that are compliant with the standards set by Erhvervsstyrelsen. These systems must:
- Allow real-time entry and tracking of financial data
- Store documentation securely for a minimum of five years
- Support automated reporting to authorities
Key deadlines:
- July 1st, 2024: The new digital bookkeeping law officially takes effect.
- Companies must switch to approved accounting software before this date and ensure that systems are up to date and properly configured.
Failing to comply with this regulation could result in penalties and complications during audits. Early implementation is highly recommended, especially for companies currently using manual or outdated bookkeeping methods.
Deadline for Changing Preliminary Income Tax
At the beginning of each year, companies receive a preliminary tax assessment from SKAT based on previous earnings. If you expect your income to be significantly higher or lower than estimated, you should adjust this to avoid under- or overpayment.
Key deadlines:
- March 20th: First preliminary instalment due.
- November 20th: Second preliminary instalment due.
- Deadline for changes to your preliminary income: Until 6 months after the fiscal year ends, but ideally before final payments.
Managing preliminary tax properly can help your business avoid interest charges and ensure better cash flow throughout the year.
Deadlines for Sole Proprietors and Freelancers
If you operate as a sole proprietor (enkeltmandsvirksomhed), you must report business income as part of your personal tax return. This includes submitting the income tax declaration (Selvangivelse) and income specification (Oplysningsskema).
Key deadlines:
- July 1st: Final deadline for personal income tax returns, including business income.
- March 1st: For submitting supplementary information in some cases (e.g., foreign income or special deductions).
Even though sole proprietors are not required to submit formal financial statements, they are expected to keep detailed accounting records and produce them if requested by SKAT.
Holiday Pay Reporting for Employers
Employers in Denmark are obligated to contribute to employees’ holiday pay. This is managed via FerieKonto or an approved holiday fund.
Key deadlines:
- Holiday pay must be reported immediately after salary is paid, along with monthly payroll.
- Contributions must be paid monthly, with the same deadline as income tax and ATP contributions: the 10th of the following month.
Failure to report or pay on time can lead to administrative penalties and complications for employees taking vacation.
Keeping track of accounting Denmark deadlines is a crucial part of running a compliant and successful business in Denmark. Whether you’re dealing with VAT, corporate tax, payroll, or digital bookkeeping, each deadline serves a legal and financial purpose. Missing them can result in fines, audits, or damage to your business’s reputation.
To stay on top of your obligations:
- Use digital tools that automate reminders and submissions
- Keep a financial calendar and sync it with your accounting software
- Work with a qualified accountant if needed, especially when facing complex reporting requirements
By managing deadlines proactively, you can focus on growing your business with confidence—knowing your financial compliance is under control.
