Denmark

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General information: Danish culture and customs as seen by the Kwintessential website
Danish business culture as seen by the Kwintessential website
Danish business culture as seen by the Executiveplanet website
Opening hours and days: Business hours vary throughout Denmark. Opening times range from 8 to 10 a.m. and closing times from 3:30 to 5:30 p.m. Offices operate on a five-day schedule, which means that they are usually closed Saturday and Sunday.

Christmas	One week around Christmas
Easter	Some days around Easter

Tax year: The fiscal year begins on January 1st and ends on December 31st of the same year.
Accounting standards: The accounting rules of the Scandinavian countries are very similar thanks to their closely related history and culture.
The relation between the accounting and the tax system is the same as in Germany.
Accounting regulation bodies
Accounting reports: Intangible assets can be booked in the Balance sheet or in expenses in the profit and loss account (choice of the company).
Physical fixed assets must be estimated at the original or production cost.
Current assets have to appear at the lower cost and value of the market.
Stocks are estimated with the weighed average cost or with the FIFO method.
Publication requirements: Law refers to the notion of "good accounting method" as regards the methods of companies for the elaboration of financial status.
All the companies of capital have to send a copy of their annual report to the legal authorities of the country. This annual report must contain a profit and loss account, a balance sheet and an annual report.
Professional accountancy bodies: FFR, Foreningen af Registrerede Revisorer
FSR, Foreningen af Statsautoriserede Revisorer
Certification and auditing: The audit is compulsory.
Accounting news

Company tax: 28%
Tax rate for foreign companies: Resident companies are taxed on worldwide income, with foreign branches and foreign real estate of Danish companies exempted; non-resident companies are taxed only on Danish-source income. A corporate entity is resident if it is registered in Denmark or if its place of management is in Denmark. The 28% tax rate applies to all forms of companies and branches.

Dividends received from a Danish or foreign company are tax-exempt where a company has owned 20% of the share capital for one year. The threshold for the eligible holding has dropped to 15% as of January 2007, and will drop to 10% as of January 2009 in order to comply with EU directive 2003/123.
Capital gains taxation: Capital gains are normally included in taxable income of companies. Long-term gains on shares are tax-free. Capital gains of individuals are taxed at 28% and 43%.
Main allowable deductions and tax credit: Consult Deloitte Tax guide
Other corporate taxes: Capital duty, Real property tax, Stamp duty,

State income tax, and church tax varies from 0.4% to 1.5%	Of up to 27.8%
Country and municipal taxes	From 29% to 35%
Maximum tax ceiling	59%

Allowable deductions and tax credit: There are several types of deductions or reductions applying to taxpayers. For further details concerning the nature of the deductions, contact the local tax authorities.
Special expatriate tax regime: 25% tax rate for the first 3 years in Denmark. For more information consult Deloitte Tax Guide.

Countries with whom a double taxation treaty have been signed: See the list of the double Taxation Avoidance Treaties.
Whithholding taxes: Dividends. 28%, Interest: 30%, Royalties: 30%

National organizations: The Committee of Normalization and Metrology is the body working out the laws of standardization and approval in Denmark. The purpose is to harmonize these standards with the European ones. The standard ISO 9000 is a factor of competitiveness, although it is optional.
Regional organizations: European Patent office
International membership: Member of the WIPO
Signatory to the Paris Convention for the Protection of Intellectual Property
Membership to the TRIPS agreement - Trade-Related Aspects of Intellectual Property Rights (TRIPS)

Type of property and law	Validity	International agreements signed
Patent The Consolidate Patents Act; Publication of the Patents Act, cf. Consolidated Act No. 366 of June 9, 1998 as amended by Act No. 412 of May 31, 2000).	20 years	Patent Cooperation Treaty (PCT) Strasbourg agreement concerning the International Patent Classification
Trademark Trademark Madrid agreement Nice agreement	10 years	Trademark law treaty Nice agreement Protocol relating to the Madrid Agreement
Design The Danish Designs Act 1970 (Act No. 218 of 27th May 1970)	5 years renewable twice
Copyright Consolidated Act No. 763 of June 30, 2006 on Copyright	5 years	Berne convention Convention for the Protection of Producers of Phonograms against unauthorized duplication of their phonograms Rome convention for the protection of performers, producers of phonograms and Broadcasting organizations WIPO copyright treaty WIPO performances and Phonograms treaty
Industrial Models

Independence of justice: Guaranteed.
Equal treatment of nationals and foreigners: Denmark is ruled by law. Foreign nationals can expect a fair trial from the country's judicial system. Denmark is one of the least corrupt nations in the world.
The language of justice: Danish, but English is the predominant second language.
Recourse to an interpreter: It is possible to have an interpreter.
Sources of the law and legal similarities: The main source of the law is the constitution of 1849 which went through a major overhaul in 1953. The legal system is based on the civil law system and the judicial review of various legislative acts. Denmark accepts compulsory ICJ jurisdiction, with reservations. Denmark is a member of the European Union (EU), so the country's national law needs to comply with the Community legislation.
Checking national laws online: Ministry of justice

National standards organizations: Danish Standards Association
Integration in the international standards network: Denmark is a member of:
- The International Standard Organization (ISO);

- The International Electrotechnichal Commission (IEC);

- The European Committee for Standardization (CEN);

- The Asia-Europe Meeting (ASEM).
Classification of standards: All new EU standards must be approved as Danish standards and they get the title DS/EN. If a standard initially is international and gets the status of a EU and Danish standards then the title is DS/EN ISO. Like e.g. DS/EN ISO 9001 which is the standard for quality management.
Online consultation of standards: Publication of standards is entrusted by the Danish Standards Association. On their website you can see a complete list of standards.
Certification organizations: Danish Certification of Standards

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