A tax calendar is a schedule that shows important dates and deadlines for tax payments, filings and other tax‑related activities. The tax calendar helps taxpayers comply with deadlines and avoid fines and interest for late payments or filings.
Frequently Asked Questions About the tax calendar
What is a tax calendar?
A tax calendar is a practical overview of all the important dates and deadlines that businesses and individuals must comply with in connection with tax payments and filing to the tax authorities.
It functions as a schedule that ensures that you do not overlook deadlines for payment of tax, submission of tax returns, on-account payments, VAT settlement and other tax obligations.
For businesses, the tax calendar typically includes deadlines for corporate tax, VAT, A-tax and labour market contributions, while for individuals it may include dates for submission of the annual tax assessment and payment of residual tax.
What are the deadlines for submitting the tax return form?
The deadline for submitting the tax return form (previously the tax return) is 1 May in the year after the income year for individuals with employment or pension income.
For individuals with more complex circumstances, such as self-employed persons or individuals with foreign income, the deadline is 1 July in the year after the income year.
For companies, the deadline for submitting the tax return form is no later than 6 months after the end of the company’s income year. If the income year follows the calendar year, the deadline will be 30 June in the following year.
When should the preliminary income assessment be checked?
The preliminary income assessment opens in November for the coming year.
It is recommended to correct it to ensure that the information on which the assessment is based is correct, so that you avoid paying too much or too little tax during the year.
How does the preliminary income assessment work for companies?
For companies, the Danish Tax Agency does not prepare a preliminary income assessment.
Instead, the company itself must pay on-account tax, which as a rule falls due in March and November in the income year.
The company can adjust up or down by paying voluntary on-account tax, so the payments correspond to the expected income.
When must VAT be paid?
Businesses must pay VAT depending on their settlement period.
Smaller businesses typically settle VAT semi-annually, medium-sized businesses quarterly, and larger businesses monthly.
The VAT return must be submitted, and payment made, no later than the 1st of the third month after the end of the settlement period, unless the business is on monthly settlement, where the deadline is normally the 25th of the following month.
When is B-tax due?
B-tax is paid in 10 instalments during the income year.
The instalments fall due on the 20th of the months January to May and July to November.
In June and December there are no due dates for B-tax.
What happens if you miss a deadline in the tax calendar?
If you miss a deadline in the tax calendar, the consequences can vary depending on which deadline it is.
In most cases it will result in interest, fees or fines.
Disclaimer
As the above is for guidance purposes only, we accept no liability for decisions that may be made based on the above without prior individual advice. We accept no liability for errors and omissions.