Postponed deadline for Submission of Transfer Pricing Documentation; TP documentation
In June this year the deadline for submitting the company tax assessment notice for companies using the calendar year as the accounting year was postponed to the 25th of August 2023.
This means that the deadline for submitting Transfer Pricing documentation for the same companies for the income year 2022 has been postponed to 24th of October 2023.
If your company uses the calendar year as the accounting year, then the company's information deadline for the tax assessment notice to the Danish Tax Agency is postponed to the 25th. of August 2023.
And since the documentation for Transfer Pricing, the so-called TP documentation, must be submitted to the Danish Tax Agency nno later than 60 days after the information deadline, therefore you have until 24 October 2023 to submit Transfer Pricing.
Transfer Pricing revolves around the pricing of controlled transactions. By this is meant the transfer of goods, services, etc. between affiliated companies, main shareholders or permanent establishments, and last year, new rules for Transfer Pricing documentation (TP documentation) were introduced in Denmark, which partly led to a relaxation of Transfer Pricing documentation for Danish transactions, and partly led to major changes for multinational groups with activities in Denmark.
As a rule, all controlled transactions of the taxpayer are subject to the obligation to provide documentation for transfer pricing, but there are exceptions, for example for smaller companies.
Read more about transfer pricing rules here
Submit your transfer pricing documentation on time
Transfer Pricing documentation must be submitted to the Danish Tax Agency no later than 60 days after the information deadline.
If the TP documentation is not submitted on time or is submitted with incomplete areas, the Danish Tax Authority will be entitled to making an estimate of taxable income.
Do you want to know more about transfer pricing documentation?
We have prepared information about Transfer Pricing - both in English and in Danish. This can help provide an overview of the rules in the transfer pricing area.
Among other things, we go into details with:
Who is subject to the documentation requirements?
The new deadlines for submission of the Transfer Pricing documentation
Requirements for the content of a Transfer Pricing documentation
How to find the arm's length price of a controlled transaction
Which transactions are subject to the obligation to provide documentation?
Consequences of missing or inadequate Transfer Pricing documentation