Law Amending The Stock Profit Taxation Law, Corporation Tax Act And Various Other Acts (Follow-Up On Harmonization Of The Companies ' Equity Returns Taxation, Etc.) Reprinted Definitive Series

Original Language Title: Lov om ændring af aktieavancebeskatningsloven, selskabsskatteloven og forskellige andre love(Opfølgning på harmoniseringen af selskabers aktieafkastbeskatning m.v.) Omtryk

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Law amending the stock profit taxation law, Corporation Tax Act and various other acts

(Follow-up on harmonization of the companies ' equity returns taxation, etc.)

WE, MARGRETHE the SECOND, by the grace of God Queen of Denmark, do indeed:

The Danish Parliament has adopted and we know Our consent confirmed the following law:

§ 1

The law on the tax treatment of gains and losses from the sale of shares, etc. (stock profit tax law) of the basic regulation. lovbekendtgørelse nr. 89 of 25. January 2010, as amended by section 3 of Act No. 724 of 25. June 2010 and section 3 of Act No. 1561 by 21. December 2010, is amended as follows: 1. In article 2, paragraph 3, nr. 6, the words ' shares ' to: ' shares covered by § 17 '.

2. In accordance with paragraph 2 shall be inserted:

» Tradable unit trust § 3. Tradable unit trust is considered always for unit trust, which is admitted to trading on a regulated market. '

3. In paragraph 4 (A), paragraph 1, the words ' without prejudice to article. However, paragraph 2-4 ' to: ' without prejudice to article. However, paragraphs 2, 3 and 7 '.

4. paragraph 4 (A), paragraph 3 is replaced by the following: ' (3). Subsidiary shares deemed owned directly by the parent company (between an) direct and indirect shareholders, which are subject to the corporate tax Act § 1, § 2, paragraph 1, point (a), or § § 31A or 32, Fund tax law § 1 or equation § 16 H, and as in any link between shareholder and between holding company owns at least 10 per cent of the share capital in the underlying company. It applies, however, only if all the following conditions are satisfied: 1) Between an primary function is ownership of subsidiary shares and affiliated company shares, see. section 4 (B).

2) Between holding company shall not exercise real economic activity relating to stock ownership.

3) between the holding company does not own the entire share capital of the subsidiary, or between the holding company owns the whole share capital of a subsidiary, which is not taxable in Denmark, and where taxation of dividends from the subsidiary through direct ownership not would have to be reduced or waived in accordance with the provisions of Directive 90/435/EEC establishing a common taxation of parent companies and subsidiaries of different Member States or in accordance with a double taxation agreement with the Faroe Islands , Greenland or the State in which the subsidiary is resident.

4) Shares in between holding company are not admitted to trading on a regulated market or a multilateral trading facility.

5) More than 50 per cent of the share capital in between holding company owned directly or indirectly by the companies, etc. as mentioned in 1. point, who would not be able to receive dividends tax-free through direct ownership of the shares of the individual subsidiary. '

5. In paragraph 4 (A) shall be inserted after paragraph 3 as new pieces: ' (4). If the same shares as a result of paragraph 3 is owned directly by several corporate shareholders covered by paragraph 3, 1. paragraph shall be deemed to be shares of owned directly by the top shareholder.

(5). If the shares owned by the company's shareholders as referred to in paragraph 3, no. 5, conferred on the dividend preference, account shall be taken of the following shareholdings in between holding company by the statement in paragraph 3, no. 5:1) shareholdings associated personal shareholders with a dominant influence, see. equation section 16 H, paragraph 6, of the company's shareholder.

2) shareholding of persons who are related to the personal shareholders, without prejudice. equation section 16 H.

3) Portfolio shareholdings associated companies, etc., above which the categories mentioned in point 1. 1 and 2 have a dominant influence, see. equation article 16 H, paragraph 6.

4) Portfolio shareholdings associated funds, etc., founded by the categories mentioned in point 1. 1 and 2 of the basic regulation. equation article 16 H, paragraph 6.

(6). By deduction of dividend tax after withholding § 65 in cases where a corporate shareholder in accordance with paragraph 3 shall be deemed to own shares in the underlying companies directly, obliges the company shareholder for payment of an amount equal to the tax value of the corporate shareholder's share of the distributed dividend to between holding company. The payment has no tax implications to payer or recipient. '

Paragraph 4 becomes paragraph 7.

6. paragraph 4 (B), paragraph 2 is replaced by the following: ' (2). Affiliated company shares deemed owned directly by those of the owning group company (between an) shareholders who are subject to corporate tax Act § 1, § 2, paragraph 1, point (a), or § § 31A or 32, Fund tax law § 1 or equation § 16 (H), and which owns at least 10 per cent of the share capital in the underlying company in any link between shareholder and between holding company. It applies, however, only if all the conditions set out in section 4 (A), paragraph 3, nr. 1-5, is met. section 4 (A), paragraphs 4 to 6 shall apply mutatis mutandis. '

7. Under section 5 shall be inserted in Chapter 1:

» Loss § 5a. Loss on disposal of shares can only be deducted to the extent that the loss exceeds the sum of the following dividends received: 1) dividends received of the shares concerned, as the taxpayer in ejertiden have been exempted from the requirement to include in income statement.

2) dividends received by those shares, in which the taxpayer has obtained relief on dividend payments after a double taxation treaty with a larger amount than the tax paid to the foreign State. There shall be taken into account, an amount corresponding to the increase in relief.

(2). The sum of dividends received in paragraph 1 shall be increased to the extent that the tax payers of dividends præferenceaktier in the company concerned has received the corresponding yields, as not already has reduced the loss deduction in accordance with paragraph 1.

(3). Companies which are taxable under section 17 or covered by section 43, paragraph 4, to the sum of dividends received in accordance with paragraph 1 may include any subsidies and dividend yield of præferenceaktier granted by the equity loss-making group company and group companies, as the loss-making group company shares directly or indirectly, a dominant influence over, to other group companies, as the equity loss-making group company do not have a dominant influence, directly or indirectly, over. By group companies shall mean companies in the same group after Corporation Tax Act section 31 C 1. paragraph shall apply mutatis mutandis to persons who are subject to tax under section 7 if these directly or indirectly a dominant influence over both the sponsoring as the subsidised company. '

8. section 13 (3), is repealed.

9. Article 17, paragraph 2 is replaced by the following: ' (2). Notwithstanding paragraph 1, loss on disposal of intragroup convertible bonds and warrants to such convertible bonds is not deductible in determining taxable income. By intra-group convertible bonds means bonds in affiliates, see. Corporation Tax Act section 31 c. ' 10. In section 22 (1) is inserted after 1. item:

' 1. the paragraph shall, however, only apply if the net gain or net loss of the year combined with net gains and net losses on receivables and debts covered by § § 14 and 23 foreign exchange gain exceeds $ 400. ' 11. In section 23 (A), 1. paragraph shall be added after ' article 9 ': ' and § 17 '.

12. Article 25, paragraph 3 is replaced by the following: ' (3). Paragraph 1 shall not apply in those cases where gains and losses are stated after the inventory principle. '

13. In article 28, paragraph 2, the following is inserted as a 3. item:

' Notwithstanding 1. and 2. paragraph, paragraph 1 shall not apply where a loss on the shares acquired in connection with the capital injection, not be taken into account in determining taxable income, without prejudice. § 8.«

14. Pursuant to section 28 is added: ' section 28 a. is reduced a claim on a capital not paid-up share capital, on the owner of the basic regulation. the Danish companies Act § 33 shall be deducted from the acquisition cost for the shares issued in connection with the Foundation of the claim, by an amount equivalent to the amount receivable is recorded with.

(2). Used stock principle on the shares, in which the acquisition cost shall be reduced in accordance with paragraph 1, are written down the value of the shares at the beginning of the year of income in the year in which the amount receivable is reduced. For shares acquired during the income year, used the acquisition cost instead of the value of the shares at the beginning of the year of income. '

15. In paragraph 33 (A), paragraph 2, no. 2, the words ' article 8 ' are replaced by: ' articles 8 or 10 '.

16. In article 38, paragraph 4, 3. paragraph, shall be replaced by ' sections 13, 14 ' to: ' § § 13-14 '.

17. In article 39, paragraph 3, 1. paragraph, the words ' 76/308/EEC of 15 July. March 1976, as amended by Council Directive 79/1071/EEC of 6. December 1979, Council Directive 92/108/EEC of 14 May 1991. December 1992 and Council Directive 2001/44/EC of 15. June 2001 ': ' 2008/55/EC of 26. May 2008 '.

18. In article 39, paragraph 3, the following is inserted as a 3. and (4). item:

» Is the person's vacates happened to a country covered by the 1. PT said Convention or it in 1. paragraphs that directive and moves the person subsequently passed to a country which is not covered by the said Convention or the said Directive shall continue to be deferred subject to the lodging of a reassuring safety regulation. 2. item is the person's vacates happened to any country not covered by the 1. PT said Convention or it in 1. paragraphs that directive and moves the person subsequently passed to a country covered by the said Convention or the aforementioned directive, the security lodged shall be released upon request. '

19. In section 39 (A), paragraph 4, the following is inserted as a 5. item:

"There must be no more than is paid an amount equal to the negative tax value of the ascertained damage, calculated on the basis of the rules laid down in Spanish law § 8A. ' 20. In section 39 (A), paragraph 11, shall be inserted after 1. item:
' At the same time with the submission of this tax return must be given information about the address of the submission time. '

21. In section 39 (A) shall be inserted as paragraph 13: ' paragraph 13. Customs and tax administration may request the person within a reasonable period of time to submit documentation for use by the establishment of grace amount payable according to the rules laid down in paragraphs 2 to 10. Submitted documentation is not filed in due time, extension of time lapse, and the amounts at balance, grace is due for payment. Customs and tax administration can ignore the excess of the time limit laid down. The time limit for payment of the amounts covered by 2. point is the second month after the transmission of the claim for payment of the last timely payment day on 20 July. in the due month. Paragraph 12, 2. and (3). paragraph shall apply mutatis mutandis. '

22. Under section 39 (B) shall be inserted: ' § 40. Grace amount pursuant to section 39 (A) is reduced by the tax, which the person paid on the shares included in the inventory list as a result of the corporate tax Act § 5 (5) of the basic regulation. equation section 16 (A), paragraph 3, nr. 1, point (c). the balance is reduced when the tax is paid. Balance cannot be decreased to less than $ 0 ' 23. In section 43 shall be inserted as paragraph 4: ' (4). Losses on change of tax status under section 33 (A), paragraph 2, no. 1, to be covered by section 9 can be deducted from income in the year the net gains of the same shares when shares are acquired in the period from 23. April 2006 to the 22. April 2009. Change of tax status must be made no later than the fourth year after the tax year in which the shares are acquired. The ascertained damage after 1. points deducted in subsequent income year in accordance with the principles applicable to losses covered by section 9, paragraph 4, because the loss can be deducted only in net gains on the same shares. The carry-over of eligible losses must be declared in the income year and forming part of tax assessment for that income year. The loss will lapse, if the shareholder after the tax status change draw new shares in the same company for premium compared to the shares ' market value. The loss will lapse, if the shares subsequently changes its tax status under section 33 (A), paragraph 2, no. 2, to be covered by section 8. Life insurance companies cannot quantify the losses after 1. paragraph. '

§ 2

In the law on the taxation of profits made from the sale of real estate (real estate profit tax law) of the basic regulation. lovbekendtgørelse nr. 891 of 17. August 2006, as amended, inter alia, by section 5 of law No. 525 of 12. June 2009 and section 4 of Act No. 725 of 25. June 2010 and no later than by § 2 of the law No. 1560 by 21. December 2010, is amended as follows: 1. section 6 (A), paragraph 5, 1st paragraph, is replaced by the following:

' Notwithstanding paragraph 1, 4. paragraph shall be regarded as the letting of immovable property to a company in which the owner of the property and his spouse have a dominant influence, directly or indirectly, for commercial activity. '

§ 3

In the law on the taxation of trusts and certain associations (fonds of the taxation code), see. lovbekendtgørelse nr. 1248 by 2. November 2010, as amended by section 7 of the Act No. 513 of 7. June 2006, shall be amended as follows: 1. Article 3, paragraph 3 is replaced by the following: ' (3). Funds covered by section 1, nr. 1 and 4, can apply the principle in determining recoverable amount of gains and losses on the Portfolio shares, see. stock profit taxation § 9. The Fund may not, however, apply the realisation principle on unit trust as mentioned in the stock profit taxation Act section 20, paragraph 1, and unit trust as mentioned in the stock profit taxation Act section 20 (A), if the Association is covered by the definition of investment in the stock profit taxation Act section 22, paragraphs 2 and 3. In addition, the Fund may not apply realizable principle on portfolio shares admitted to trading on a regulated market or a multilateral trading facility, if the Fund in an income year have used the inventory principle on such shares. It is a condition that the Fund uses realizable principle on all portfolio shares with the exceptions arising from the 2. and (3). paragraph If the Fund in an income year has used stock principle on portfolio shares, which are not admitted to trading on a regulated market or a multilateral trading facility, the Fund's access after 1. paragraph to apply the principle of realisation on portfolio shares. Access after 1. paragraph to apply the principle of realisation on portfolio shares admitted to trading on a regulated market or a multilateral trading facility is subject to the condition that there will be handouts for an amount equal to the sum of the taxable income before deductions in accordance with sections 4 and 5 and income which according to paragraph 2 and paragraph 10 should not be taken into account for the taxable income. Provisions covered by article 4, paragraph 4, 8 and 9 and § 5 (1) and (2) shall be treated as distributions. Ceremonies, where provisions used, shall, however, be excluded. It is not required after 6. point, that film earned is tax deductible. The condition of 6. paragraph shall be deemed to be fulfilled, even if the Fund has used part of the income for that income year for the payment of income tax, see. section 11, or has used part of the income for that income year for the payment of taxes to a foreign State, the Faroe Islands or Greenland, as a result of the foreign State, the Faroe Islands or Greenland are withholding tax of dividends of shares, interest or royalty from sources there. If the Fund in an income year does not comply with the condition set out in 6. paragraph, or where in an income year triggered taxation pursuant to section 4, paragraph 6 or 8, of unused provision amounts accrued during the income year 2010 or later, used inventory principle from and with that income year on such shares. Stock profit taxation Act section 24, paragraph 3, 1. paragraph shall apply when switching from realisation principle for stock principle. '

2. In section 3, paragraph 6, the words ' the law on foundations ': ' law on foundations and certain associations '.

§ 4

In law on mergers, divisions and transfers of assets etc. (mergers), see. lovbekendtgørelse nr. 1260 by 3. November 2010, as amended by section 17 of law No. 516 of 12. June 2010, is amended as follows: 1. In section 8, paragraph 1, point 1, shall be inserted after ' the company ': ' without prejudice to article. However, section 10, paragraph 2 '.

2. In article 8, paragraph 4, the words ' section 17(2), 2.0 ' to: ' section 5 (A) '.

3. In article 9, paragraph 2, the following is inserted as a 2. item:

' Notwithstanding 1. paragraph dealt with the cash remuneration paid as dividends in the cases referred to in section 16 (A), equation (3), no. 1.«

4. In section 10 shall be added as paragraph 2: ' (2). Profit and loss on shares, as the transferring company owner in the receiving company, and that the merger will be canceled or become to own shares in the receiving company by this company's takeover of the assets and liabilities of the transferring company, shall not be included in the income statement, if the transferring company owns 10 per cent or more of the capital of the receiving company. '

5. In article 12, paragraph 3, shall be inserted after 2. item:

» To the distributions, etc. be included any grants awarded by the company or association and of Group companies, see. the Danish companies Act section 31 C, as the company or association is, directly or indirectly, a dominant influence over the companies in the group, by the company or the Association does not have a dominant influence over. '

6. In article 12, paragraph 7, 1. and 2. paragraph, shall be replaced by ' 2.-4. paragraph ' to: ' 2.-5. section ' 7. In article 15, paragraph 4, shall be added as 4.-7. item:

' Notwithstanding 1. item is taxed by the cancellation of the distribution shares of the transferring company which is cancelled by a receiving company by merger, which yield when the recipient company owns at least 10 per cent of the share capital of the transferring company, and when dividends taxation should not be waived or reduced in accordance with the provisions of Directive 90/435/EEC establishing a common taxation of parent companies and subsidiaries of different Member States or in accordance with a double taxation agreement with the Faroe Islands , Greenland or the State where the parent company is domiciled. Similarly, the distribution is taxed by the cancellation of shares of the transferring company which is cancelled by a receiving company by merger, as dividends in the cases referred to in section 16 (A), equation (3), no. 1, point (b). It is regardless of 1.-3. paragraph a condition for the application of the rules in Chapter 1 that obtained authorisation from the Customs and tax administration, if a person or an undertaking which has a dominant influence in the transferring company, see. § 2 equation, and not covered by 4. or 5. paragraph, neither is domiciled in the EU or in a State which has a double taxation treaty with Denmark. The Customs and tax authorities may lay down special conditions for the authorization. '

8. In article 15, paragraph 5 shall be added as 3. item:

» Shareholders of the transferring company is taxed in the cases referred to in section 16 (A), equation (3), no. 1, of the dividend payout at the end of the transferring company as dividends. "

9. section 15 (a) (1), 10. paragraph is replaced by the following:

' 4. paragraph does not apply if a person or a company that has a dominant influence in the transferring company, see. equation section 2, are neither domiciled in the EU or in a State which has a double taxation treaty with Denmark. '

10. In paragraph 15 (a), paragraph 2, the following is inserted as a 4. item:

» It's finally a condition for the application of paragraphs 1, 4. point that no cash consideration is assigned to companies by the Division owns at least 10 per cent of the capital of the transferring company, or if shares in the transferring company covered by the share of profit taxation Act § 4 B. ' 11. In paragraph 15 (c) (1), 4. paragraph, the words ' 5.-8. paragraph ' to: ' 5.-7. item ' 12. § 15 c (1), 8. paragraphs, are hereby repealed.

§ 5
In kildeskatteloven of the basic regulation. lovbekendtgørelse nr. 1403 of 7. December 2010 at the latest, as amended by section 3 of Act No. 1560 by 21. December 2010 and § 1 of lov nr. 1565 by 21. December 2010, is amended as follows: 1. In article 2, paragraph 1, no. 6, 1. paragraph, the words ' equation section 16 (B) ' are replaced by: ' equation section 16 (B), paragraph 1 '.

2. In article 73 (E), (3) 1. paragraph, the words ' 76/308/EEC of 15 July. March 1976, as amended by Council Directive 79/1071/EEC of 6. December 1979, Council Directive 92/108/EEC of 14 May 1991. December 1992 and Council Directive 2001/44/EC of 15. June 2001 ': ' 2008/55/EC of 26. May 2008 '.

3. In article 73 E, paragraph 3, the following is inserted as a 3. and (4). item:

» Is the person's vacates happened to a country covered by the 1. PT said Convention or it in 1. paragraphs that directive and moves the person subsequently passed to a country which is not covered by the said Convention or the said Directive shall continue to be deferred subject to the lodging of a reassuring safety regulation. 2. item is the person's vacates happened to any country not covered by the 1. PT said Convention or it in 1. paragraphs that directive and moves the person subsequently passed to a country covered by the said Convention or the aforementioned directive, the security lodged shall be released upon request. '

§ 6

Of the law on the tax treatment of gains and losses on receivables, debt and financial contracts (kursgevinstloven), see. lovbekendtgørelse nr. 1002 of 26. October 2009, as amended by section 1 of Act No. 724 of 25. June 2010, section 4 of Act No. 1561 by 21. December 2010 and section 3 of Act No. 174 of 4. March 2011, shall be amended as follows: 1. In paragraph 3, the words ' paragraphs 4 and 5 ': ' sections 4, 5 and 24 (A) '.

2. In paragraph 6, the words ' articles 8 and 24 ' to: ' § § 8, 24 and 24 (A) '.

3. section 8, 2. paragraph is replaced by the following:

» The tax-free gain is calculated as the difference between the debt and the value of the påtagelsen value by the vendor at the time of the debt remission. '

4. In article 22, paragraph 1, the words ' article 26, paragraph 4 ', to: ' section 26, paragraph 5 '.

5. In section 23, 1. paragraph shall be added after ' section 22 ': ' or section 24 (A) '.

6. In article 23, 2. paragraph shall be added after ' § 14 ': ' and gains and losses on unit trust in distributing bond-based mutual funds, see. stock profit tax law § 22, '.

7. section 24 (1), (2). paragraph is replaced by the following:

» The tax-free gain is calculated as the difference between the debt and the value of the påtagelsen value by the vendor at the time of the debt remission. '

8. Under section 24 shall be inserted: ' Chapter 4 (a) Not paid up share capital, section 24 (A). Gains and losses on receivables and Payables concerning not paid up share capital shall not be taken into account in determining taxable income. '

9. In article 25, paragraph 1, shall be replaced by ' paragraphs 2-12 ' to: ' paragraphs 2-10 '.

10. In section 26 shall be inserted before paragraph 1 as a new piece:

» Profit and loss on receivables and payables are stated according to the rules laid down in paragraphs 2 to 5 of the basic regulation. However, article 25, paragraphs 2-5, about storage principle and section 25, paragraphs 7 to 10. '

Paragraphs 1 to 4 shall become paragraphs 2 to 5.

11. section 31 (1), (3). paragraph is replaced by the following:

' 1. the paragraph shall not, however, apply to contracts as mentioned in 2. articles relating to shares, in which the taxpayer must calculate gains and losses according to the rules of the stock profit taxation Act § 23 paragraph 5. '

12. section 32, paragraph 2, 1. and 2. paragraph is replaced by the following:

» Loss of a contract as referred to in paragraph 1. point, can be deducted in the income of the year Prize on contracts. Additional losses can be deducted to the extent that the loss does not exceed the prior indkomstårs taxable net gains on the contracts, however, not a previous income year than 2002. "

13. section 32 (3) 1. paragraph, shall be repealed, and replaced by:

' Losses on contracts that cannot be deducted in accordance with paragraph 2, may be deducted from net gains on shares admitted to trading on a regulated market, if the contract contains only the right or duty to refrain or acquire shares or are based on a stock index. It is also a precondition for deduction after 1. paragraph, to either contract, the underlying shares or the shares that make up the index, the contract is based on, are admitted to trading on a regulated market. '

14. In article 32, paragraph 3, 2. paragraph, shall be replaced by ' 1. paragraph. ': ' 1. and 2. item ' 15. In section 32 (3), (4). paragraph, shall be replaced by ' 1.-3. paragraph. ': ' 1.-4. paragraph. ' 16. In article 38, paragraph 3, 1. paragraph, the words ' 76/308/EEC of 15 July. March 1976, as amended by Council Directive 79/1071/EEC of 6. December 1979, Council Directive 92/108/EEC of 14 May 1991. December 1992 and Council Directive 2001/44/EC of 15. June 2001 ': ' 2008/55/EC of 26. May 2008 '.

17. In article 38, paragraph 3, the following is inserted as a 3. and (4). item:

» Is the person's vacates happened to a country covered by the 1. PT said Convention or it in 1. paragraphs that directive and moves the person subsequently passed to a country which is not covered by the said Convention or the said Directive shall continue to be deferred subject to the lodging of a reassuring safety regulation. 2. item is the person's vacates happened to any country not covered by the 1. PT said Convention or it in 1. paragraphs that directive and moves the person subsequently passed to a country covered by the said Convention or the aforementioned directive, the security lodged shall be released upon request. '

18. In paragraph 38 (A), paragraph 4, the following is inserted as a 5. item:

"There must be no more than is paid an amount equal to the negative tax value of the ascertained damage, calculated on the basis of the rules laid down in Spanish law § 8A. ' 19. In section 38 (A), paragraph 8, shall be inserted after 1. item:

' At the same time with the submission of this tax return must be given information about the address of the submission time. '

20. In paragraph 38 (A) shall be inserted as paragraph 10: ' paragraph 10. Customs and tax administration may request the person within a reasonable period of time to submit documentation to be used for determining the amount of grace, due and payable in accordance with the rules laid down in paragraphs 2 to 7. Submitted documentation is not filed in due time, extension of time lapse, and the amounts at balance, grace is due for payment. Customs and tax administration can ignore the excess of the time limit laid down. The time limit for payment of the amounts covered by 2. point is the second month after the transmission of the claim for payment of the last timely payment day on 20 July. in the due month. Paragraph 9, 2. and (3). paragraph shall apply mutatis mutandis. '

21. In paragraph 41, paragraph 14, 15, 16 and 17, and section 42, paragraph 11, 13 and 15 shall be replaced by ' article 26, paragraphs 1 and 2 ' to: ' section 26 (2) and (3) '.

22. In article 42, paragraphs 12 and 14, paragraph 26, the words ' paragraph 1 ' shall be: ' article 26, paragraph 2 '.

23. In section 43 shall be added as paragraph 6: ' 6. Losses on financial contracts are recorded in the income year 2009 or earlier, and which according to the rules in section 31 in lovbekendtgørelse nr. 140 by 5. February 2008 could have been carried over for deduction in the tax year 2010 or later, but not covered by section 31 or section 31 (A), shall be treated in accordance with the rules in section 31, paragraph 3. ';

§ 7

Of the law on the imposition of income tax to the State (the tax assessment Act), see. lovbekendtgørelse nr. 1365 by 29. November 2010, as amended, inter alia, by section 4 of Act No. 462 of 12. June 2009 and no later than by § 2 of the law No. 1595 by 22. December 2010 and section 2 of Act No. 1612 of 22. December 2010, is amended as follows: 1. In article 15, paragraph 2, 2nd paragraph, shall be inserted after ' debts ': ' and mobilization for debt obligations that make up the tax-free profits after Corporation Tax Act section 13, paragraph 1, no. 2, or tax-free contribution after Corporation Tax Act section 31 D '.

2. In article 15 (2), (3). paragraph, the words ' article 8 ' are replaced by: ' articles 8 and 24 (A) '.

3. section 16 (A), paragraph 3, nr. 1, is replaced by the following: ' 1) distribution of liquidation proceeds made in the calendar year in which the company finally dissolved, unless the distribution is covered by paragraph 2, nr. 2, or one of the following conditions are met: (a)) The recipient company owns at least 10 per cent of the share capital of the company is wound up, and the distribution is covered by the corporate tax Act § 2, paragraph 1, point (c).

(b)) The recipient company owns less than 10 percent of the share capital, are taxable dividends, see. Corporation Tax Act § 2, paragraph 1, point (c), and has a dominant influence in the company wound up, see. § 2. However, this does not apply if the receiving company is resident in a Member State of the EU or EEA, and dividend taxation should be waived or reduced in accordance with the provisions of Directive 90/435/EEC or a tax treaty with that State, if there had been talk of subsidiary shares.

(c)) the receiving physical person resident outside the EU/EEA and has dominant influence in the company wound up, see. § 2.«

4. In article 16 A, paragraph 5, the words two places» (4) 1.-4. paragraph. ': ' paragraph 4, 1.-5. paragraph. ' 5. section 16 (B), (2). 2, is replaced by the following: ' 2) at the disposal of shares, etc. to a company in liquidation in the calendar year in which the company finally dissolved, unless one of the following conditions are met: (a)) The sending company owns at least 10 per cent of the share capital of the company is wound up, and the distribution is covered by the corporate tax Act § 2, paragraph 1, point (c).
(b)) The sending company owns less than 10 percent of the share capital, are taxable dividends, see. Corporation Tax Act § 2, paragraph 1, point (c), and has a dominant influence in the company wound up, see. § 2. However, this does not apply if the receiving company is resident in a Member State of the EU or EEA, and udbytttebeskatningen should be waived or reduced in accordance with the provisions of Directive 90/435/EEC or a tax treaty with that State, if there had been talk of subsidiary shares.

(c)) The sending physical person resident outside the EU/EEA and has dominant influence in the company wound up, see. § 2.«

6. In article 16 C, paragraph 3, nr. 3, the following is inserted as a 3. and (4). item:

' However, the Association can choose to count win on all the accounts in foreign currency after average method, see. Exch. rate gains section 26, paragraph 4. Average method is selected, the Association not later choose to quantify gain after foreign exchange gain section 26, paragraph 5. '

7. In article 16 C, paragraph 4, shall be inserted after 1. item:

» By statement of losses on receivables subject to section 14, paragraph Exch. rate gains 1, paragraph 3, nr. 3, 3. and (4). paragraph, apply mutatis mutandis. '

8. In article 16 C, paragraph 5, no. 1, shall be replaced by ' 1. and 2. paragraph. ': ' 1.-3. section ' 9. In paragraph 16 (C), paragraph 5, no. 2, the words ' paragraph 4, 3. paragraph. ': ' paragraph 4, 4 section ' 10. In paragraph 16 (C), paragraph 5, no. 3, the words ' paragraph 4 4. paragraph. ': ' paragraph 4, 5 ' 11 point. In paragraph 16 (C), paragraph 5, no. 4, shall be replaced by ' paragraph 4, 5. paragraph. ': ' paragraph 4, 6th paragraph. ' 12. § 16 H (1). 2, 2. paragraph is replaced by the following:

» When assessing disregarding taxable income arising from companies controlled by the company, if the companies are domiciled in the same country as the company. '

§ 8

Of the law on income taxation of limited liability companies, etc. (Corporation Tax Act), see. lovbekendtgørelse nr. 1376 of 7. December 2010, as amended by section 2 of Act No. 513 of 7. June 2006 and section 7 of the Act No. 459 of 12. June 2009, is amended as follows: 1. Article 1, paragraph 1, no. 2, is replaced by the following: ' 2) other companies, in which none of the participants shall be liable personally for the company's obligations, and for allocating the surplus compared to the participants in the company capital, corporations governed by section 2 (C) and companies, etc., within the scope of section 3 of the Act on certain trader enterprises, which are not covered by nr. 3, 3 (a) or 4.0 ' 2. In § 1, para. 8, 2. paragraph, the words ' and custodian trusts '.

3. In article 2, paragraph 1 (c), 1. paragraph, the words ' equation section 16 (B) ' are replaced by: ' equation section 16 (B), paragraph 1 '.

4. In paragraph 2 (A), paragraph 3, shall be inserted after 2. item:

» Interest and royalty payments to the foreign company for 2. points are only tax deductible if source taxation must be waived or reduced in proportion to the foreign company within the meaning of Directive 2003/49/EC on a common system of taxation applicable to interest and royalty payments made between associated companies of different Member States or in accordance with the double taxation agreement with the Faroe Islands, Greenland or the State where the foreign company is resident. '

5. In paragraph 2 (B) shall be inserted as paragraph 4: ' (4). Paragraphs 1 to 3 shall apply mutatis mutandis, although after foreign tax rules in the case of a claim of the creditor, to the extent that the vendor itself has a debt to a consolidated company, for which there is talk of subscribed capital. 1. paragraph shall apply mutatis mutandis, although there may be more kreditorled. 1. paragraph shall not apply if source taxation must be waived or reduced in proportion to the creditor in accordance with Directive 2003/49/EC on a common system of taxation applicable to interest and royalty payments made between associated companies of different Member States, or after a double tax agreement with the Faroe Islands, Greenland or the State in which the foreign creditor is resident. '

6. section 2 (C) (1). 2, is replaced by the following: ' 2.) do not have a double taxation treaty with Denmark, after which the source taxes on dividends for companies must be waived or reduced, and which is not a member of the EUROPEAN UNION. '

7. In paragraph 2 (C) shall be inserted after paragraph 1 as new paragraph: "(2). Interest and royalty payments to owners deemed to be internal payments cannot be deducted if the payment according to the rules of the owner's home country is considered to be an internal payment. 1. paragraph shall apply mutatis mutandis to capital gains on claims which are founded on such terms, the debt must be cashed out for a pre-determined premium compared to its value at the time of incorporation. Source taxation pursuant to section 2, paragraph 1, point (d), (g) and (h), may be waived if there is no deduction for 1. or 2. paragraph. '

Paragraph 2-9 becomes paragraph 3-10.

8. In paragraph 2 (C) (4), 10. point, there will be (5), 10. paragraph, the words ' section 17(2), 2.0 ' to: ' section 5 (A) '.

9. In paragraph 2 (C), paragraph 7, which becomes paragraph 8, insert as 2. item:

» Tax Law § 16 (A), paragraph 3, nr. 1, shall apply mutatis mutandis. '

10. In paragraph 2 (C), paragraph 9, 1. point, there will be paragraph 10, 1. paragraph, shall be replaced by ' paragraphs 1-8 ': ' paragraph 1-9 '.

11. In paragraph 2 (C), paragraph 9, nr. 1, 1. point, there will be paragraph 10, nr. 1, 1. paragraph shall be added after ' financial institutions ' means ' as well as claims on annuities, see. equation section 12 B, received as consideration from the sale of companies '.

12. In section 5, paragraph 5, shall be replaced by ' paragraphs 1-3 apply mutatis mutandis. ' to: ', paragraphs 1-3 and § 16 equation (A), paragraph 3, nr. 1, apply mutatis mutandis. '

13. In section 5, paragraph 5, insert as 2. item:

» Tax payment after 1. point for a physical person, see. equation section 16 (A), paragraph 3, nr. 1, point (c), shall be reduced to the extent that the natural person has paid tax on the gain and loss on the shares of the company as a result of share of profit taxation Act §§ 38 and 39 (A). ' 14. In section 5 (B), paragraph 4, shall be inserted after 2. item:

» To the distributions, etc. be included any grants awarded by the company or association and of Group companies, see. section 31 C, as the company or association is, directly or indirectly, a dominant influence over the companies in the group, by the company or the Association does not have a dominant influence over. '

15. In paragraph 5 (B), paragraph 8, 1. and 2. paragraph, shall be replaced by ' 2. and (3). paragraph ' to: ' 2.-4. paragraph. ' 16. In section 11 (B), paragraph 4, nr. 2, insert as 2. item:

» Commissions, etc. regarding the product or product claims, etc., etc. included debt, however, is not. '

17. In paragraph 11 (B), paragraph 4, nr. 3 is added after 3. item:

' Losses and gains on bonds issued to finance lending covered by 3. point and financial contracts relating thereto shall not be counted. '

18. In paragraph 11 (B), paragraph 4, nr. 3, inserted after 4. point, there will be 5. item:

' Unrealized exchange rate gains on an interest rate swap on loans secured by real estate should be excluded, but can be carried forward to subsequent indkomstårs statement of net financing expenses for offsetting in unrealized exchange rate losses on the same contract and in realized exchange rate losses on the same contract, realised in the income year in which the contract is terminated. '

19. In paragraph 11 (B), paragraph 4, nr. 3, 5. point, there will be 7. paragraph, the words ', or, in the case of a foreign exchange forward contract, etc. «20. In section 11 (B), (5), 8. paragraph, shall be replaced by ' paragraph 4, nr. 3, 4 and 5. paragraph. ': ' paragraph 4, nr. 3, 6. and 7. item ' 21. In section 11 (B), paragraph 8, 3. paragraph, the words ' (3), (4). paragraph. ': ' paragraph 3, 2nd paragraph. ' 22. In section 11 (B), paragraph 10, the words ', including foreign exchange losses, ' and ', including exchange rate gains, '.

23. In paragraph 11 (B), paragraph 10, shall be inserted after 1. item:

' Notwithstanding 1. item can be cropped unrealized exchange rate losses on an interest rate swap on loans secured by real estate made in the duration of the contract for a deduction of unrealized capital gains on the same contract and in realized gains on the same contract, realised in the income year in which the contract is terminated. '

24. In section 13 (1). 2, be inserted after 3. item:

» Provision of 1. item includes nor dividend, to the extent that a subsidiary at a lower ejerniveau have had deductions for dividend distribution, without deduction is matched by the taxation of dividend distribution to an intermediate level, and source taxation of dividend payments but also in none of the intermediate levels have had to be waived or reduced in accordance with Directive 90/435/EEC. '

25. In paragraph 21, 3. paragraph, the words ' section 13, paragraph 1, no. 2, 6. paragraph ' to: ' section 13, paragraph 1, no. 2, 7. section ' 26. In section 31 (D) are inserted as paragraph 6: ' 6. It is not considered to be a taxable contribution to between holding company, when the amount shall be deemed to be received by the shareholder after the stock profit taxation Act section 4 (A), paragraph 3, section 4 (B), or (2) is not distributable to the shareholder. "

27. paragraph 32, paragraph 5, no. 2, 4. paragraphs, are hereby repealed.

§ 9

The law on tax-exempt corporate conversion, see. lovbekendtgørelse nr. 1166 of 2. October 2007, as amended by § 10 of lov nr. 521 of 17. June 2008, article 7 of law No. 98 of 10. February 2009, section 17 of Act No. 462 of 12. June 2009 and section 18 of Act No. 525 of 12. June 2009, is amended as follows: 1. In article 1, paragraph 1, the following is inserted as a 2. item:

» Owner (owners) have also access to apply the rules laid down in this Act, if the entity is converted to a foreign company, which is covered by the concept of a company of a Member State in article 3 of Directive 2009/133/EC, and which is taxable after Corporation Tax Act section 1, paragraph 6, or after Corporation Tax Act § 2, paragraph 1, point (a). ' 2. In clause 5 shall be added as paragraph 2:
' (2). By transformation of the company pursuant to section 1 (1), (2). paragraph, to a foreign company, which is taxable after Corporation Tax Act § 2, paragraph 1, point (a), shall be considered as assets and liabilities, which are not as a result of the business transformation is linked to the foreign company's permanent establishment or property in this country, ceded by the owner at the time of the transformation of the company. When the transfer sum be valued at fair market value at that time. '

3. In article 6, paragraph 5, insert as 2. item:

» By transformation of the company pursuant to section 1 (1), (2). paragraph, to a foreign company, which is taxable after Corporation Tax Act § 2, paragraph 1, point (a), paragraphs 1 to 4 do not include assets and liabilities, as a result of the business transformation is not linked to the foreign company's permanent establishment or property in this country. '

§ 10

In the law on the taxation of shipping company (tonnage tax code), see. lovbekendtgørelse nr. 834 of 29. August 2005, as amended, inter alia, by section 6 of the law No. 530 of 17. June 2008 and, most recently, by section 17 of law No. 525 of 12. June 2009, is amended as follows: 1. In article 1, point 3, shall be inserted after ' corporate tax Act § 2 C ': ' unless this company is consolidated regulation. § 3, paragraph 1, with a company governed by the tonnage tax regime '.

2. In article 6, paragraph 2, 1. paragraph, the words ' the ships owned by the company, and as for rent ' for: ' ships owned or rented by the company and rented or rehired ".

3. In article 6, paragraph 2 2. paragraph, the words ' in addition, ships owned by the company, and as for rent ' for: ' Furthermore, ships owned or rented by the company and rented or rehired ".

4. In section 22, paragraphs 1, 2 and 4, the words ' the company's elected Auditor ' to: ' an accountant '.

§ 11

In Act No. 408 of 1. June 2005 amending tax kontrolloven, tax styrelsesloven, tax assessment Act and tonnage Tax Act. (Amendment of information and documentation obligations relating to transfer pricing), as amended by section 91 of the Act No. 428 of 6. June 2005 and § 10 of lov nr. 308 of 19. April 2006, shall be amended as follows: 1. section 1, nr. 9, is repealed.

2. § 5 (1), (2). and (3). paragraphs, are hereby repealed.

§ 12

In Act No. 308 of 19. April 2006 amending tax assessment Act, Corporation Tax Act and other tax laws. (Adjustment of business taxation) is amended as follows: 1. Article 12, paragraphs 1, 2 and 3. paragraphs, are hereby repealed.

section 13

In Act No. 724 of 25. June 2010 amending kursgevinstloven and various other laws. (Harmonisation of taxation of claims in Danish kroner and foreign currency, and reduction of the taxation of capital income, etc.) shall be amended as follows: 1. In article 20, paragraph 2, 1st paragraph, the words ' article 1 (3). 13-22, 24-31, 33 and 34 ' to: ' section 1, nr. 13-22, 24-31 and 33 '.

2. section 20 (3), 2. and (3). paragraphs, are hereby repealed.

section 14 (1). The law shall enter into force on the day after publication in the Official Gazette referred to in article 6. However, paragraph 2.

(2). § 1, nr. 14, and section 6, nr. 1, 2, 5 and 8, shall take effect as from 1 January 2002. March 2011.

(3). § 1, nr. 2 and 8, shall take effect as from 1 January 2002. January 2010.

(4). § 1, nr. 1 and 3-6, and section 8, no. 10, 11, 16, 18, 22, 26 and 27, have effect for the income year commencing after the date of entry into force of the Act. Stock profit taxation Act section 4 (A), paragraph 5, as amended by this Act, section 1, no. 5, however, have effect as from the 24. November 2010.

(5). § 1, nr. 7, 9 and 11, § 4, no. 2, and section 8, no. 8, has effect for sell-offs, which will take place on 24. November 2010 or later.

(6). § 1, nr. 10, has effect for unit trust in distributing investment funds, who abandoned the 1. January 2011 or later. § 6, nr. 6, have effect from the end of the tax year 2010. For unit trust, who abandoned during the income year 2010, finds stock profit tax law § 22 (1) and (2), 2. paragraph shall not apply if the investment association exclusively invests in bonds and the year's net gain or net loss combined with net gains and net losses on receivables and debts covered by § § 14 and 23 foreign exchange gain does not exceed DKK 2,000 If the taxpayer has income year 2011, see bagudforskudt 3. paragraph apply mutatis mutandis for the unit trust, which is to be transferred from the beginning of the tax year to the 1. January 2011. The taxpayer can for the income year 2010 choose to count gains and losses on receivables and debts in foreign currency in accordance with the provisions of § § 16 and 23 foreign exchange gain, see. lovbekendtgørelse nr. 1002 of 26. October 2009, and gains and losses on evidence in distributing investment funds that only invest in bonds, according to the rules of the stock profit tax law § 22 of the basic regulation. lovbekendtgørelse nr. 89 of 25. January 2010. Gains and losses are stated after 5. paragraph, account shall be taken of gains and losses on receivables and gains and losses on debt denominated in foreign currency, without taking into account foreign exchange gain § 14 (1), (2). section, and section 23 of the Act, foreign exchange gain 2. paragraph, as amended by this Act, section 6, nr. 6. Equivalent gains and losses are stated in evidence in distributing investment funds that only invest in bonds, without taking into account 3. PT.

(7). § 1, nr. 13, Fund tax law § 3 (3), 10. paragraph, as amended by this Act, § 3, nr. 1, and section 6, nr. 13-15 and 23, have effect from the end of the tax year 2010.

(8). § 1, nr. 15, § 4, no. 1, 3, 4 and 7-10 and § 7, nr. 3 and 5, have the effect of restructuring and winding-up proceedings adopted on 24 October. November 2010 or later.

(9). § 1, nr. 19, has effect for transfers that occur on or after 1. January 2011 or later.

Paragraph 10. § 1, nr. 22, and section 8, no. 9, 12 and 13, have effect from and including the 11. March 2011.

Paragraph 11. § 1, nr. 23, shall take effect as from the income year 2010. Stock profit taxation Act section 5 (A) as amended by this Act, section 1, no. 7, shall apply mutatis mutandis at the statement of losses, where the tax status change occurs within the 24. November 2010.

Paragraph 12. Fund tax law § 3 (3), 1-9. points and 11. and 12. paragraph, as amended by this Act, § 3, nr. 1, § 6, nr. 11, and section 10 shall take effect for the income year commencing after the date of entry into force of the Act.

Paragraph 13. § 4, no. 5 and 6, and section 8, no. 4, 5, 7, 14, 15 and 24, have effect for the 24. November 2010 and later. § 8, nr. 2 and 6, have effect for the income year, beginning 1 January. January 2011 or later.

Paragraph 14. § 6, nr. 18, has effect for transfers and redemptions, etc., is going on the 1. January 2011 or later.

Paragraph 15. § 7, nr. 6-11, have effect for distributions from mutual funds, which are carried out in the Investment Corporation's income year 2011 and later.

Paragraph 16. § 8, nr. 1, has effect for the income year, beginning on 24 September. November 2010 or later.

Paragraph 17. § 8, nr. 17 and 19, have effect for the income year, beginning on 24 September. November 2010 or later. Companies can choose to apply the provisions from the income year 2008 or from a later income year preceding income year after 1. paragraph Included the company in a group, see. Corporation Tax Act section 11 B, paragraph 8, shall be taken in the choice overall for the whole group of the management company.

Paragraph 18. § 8, nr. 23, has effect for cropped unrealised net capital losses on interest rate swaps on loans secured by real estate, which trimmed the 7. February 2011 or later, or as the 7. February 2011 could be deducted from capital gains in the current year, see. Corporation Tax Act section 11 (B), paragraph 10.

Paragraph 19. section 9 shall take effect for the tax-exempt business transformation with the conversion date 1. January 2011 or later.

Given at Christiansborg Palace, on 30 June. March 2011 Under Our Royal hand and Seal MARGRETHE r./Peter C

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