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Denmark Publishes Updated Tax Rate and Tax Amount Limits Tables for 2023 — Orbitax Tax News & Alerts

The Danish Ministry of Taxation has published an updated tax rate table for 2018-2023. For 2023, the bottom and top state personal income tax rates are maintained at 12.09% and 15.0%, and the maximum tax rate ceiling is maintained at 52.07%, which includes state, municipal, and certain other taxes. The corporate tax rate is also maintained at 22%.

Further to the rate table, an updated tax amount limits table for 2018-2023 has also been published. With respect to personal income tax, one of the main changes is an increase in the top tax bracket threshold from DKK 552,500 for 2022 to DKK 568,900 for 2023. With respect to corporate tax, the main change is an increase in the carried-forward loss offset limit from DKK 8,872,500 in taxable income for 2022 to DKK 9,135,000 for 2023 (taxable income in excess of this amount is subject to a 60% offset limit).