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Home // Home page // Major shareholders: Remember the controlled transactions
Until now, companies and major shareholders have only had to disclose controlled transactions if they...
August 24, 2020

Major shareholders: Remember the controlled transactions

By September 1, 2020, main shareholders must report even small transactions with their own company in 2019. Read more and find out where to download the form.

Until now, companies and main shareholders have only had to disclose controlled transactions if they exceeded DKK 5 million. However, as of the 2019 income year, the DKK 5 million limit has been lifted and now even small transactions between a main shareholder and its company must be reported as controlled transactions.

In practice, this means that all main shareholders - together with their information form for 2019 - must complete and submit form 05.021 to the Danish Tax Agency. The submission is done via the main shareholder's tax folder at skat.dk.

If you do not submit the form, the Tax Agency can charge a tax surcharge of up to DKK 5,000.

>> Download form 05.021 here

Who should report controlled transactions?

In this context, the duty of discretion includes principal shareholders who alone or together with related parties own shares in a company and together own or control more than 50% of the capital or voting rights in the company and thus exercise a controlling influence over the company's decisions.

What are controlled transactions?

The Danish Tax Agency has stated that all commercial and financial transactions between a principal shareholder and its company are considered to be controlled transactions. This also applies to transactions between the principal shareholder and his or her close relatives, such as spouse, children and parents.

Controlled transactions include buying and selling assets (e.g. property, car, boat, art, etc.), but the category also includes other transactions such as interim bills, interest, home office rent, etc.

The Danish Tax Agency has stated that salary and dividends are not covered by the disclosure requirement because this information has already been reported.

More information

If you have any questions or would like advice and guidance, please contact your accountant or inforevision'stax department.

Flemming Saabye
Head of the tax department
T: 39 53 50 38
fsa@inforevision.dk

Bo Sponholtz
state authorized public accountant
T: 39 53 50 33
bsp@inforevision.dk

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