Law Amending The Stock Profit Tax Law, The Tax Assessment Act, Personal Tax Law And Various Other Laws And Repealing The Act On Residential Savings (Simpler Taxation Of Distributions From Mutual Funds And Expanded Access To The Utilization Of Losses From

Original Language Title: Lov om ændring af aktieavancebeskatningsloven, ligningsloven, personskatteloven og forskellige andre love og om ophævelse af lov om boligopsparing(Enklere beskatning af udlodninger fra investeringsforeninger og udvidet adgang til udnyttelse af tab ved fra

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Law amending the stock profit tax law, the tax assessment Act, personal tax law and various other laws and repealing the Act on housing savings

(Simpler taxation of distributions from mutual funds and expanded access to the utilization of losses finally leave the 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. 796 of 20. June 2011, as amended by section 1 of Act No. 624 of 14. June 2011, § 1 of lov nr. 1380 of 28. December 2011, § 3 of law No. 1382 of 28. December 2011 and section 9 of Act No. 118 of 7. February 2012, shall be amended as follows: 1. Everywhere in the law shall be replaced by ' unit trust ' to: ' evidence ', ' investment distributing investment funds ' to: ' UCITS with minimum taxation ', and ' a distributing mutual fund ' shall be replaced by: ' an investment institution with minimum taxation '.

2. Article 2, paragraph 1, is replaced by the following:

' Gains and losses from the distribution of liquidation proceeds from limited companies etc. in the calendar year in which the company, etc., finally dissolved, shall be dealt with according to the rules laid down in this law. 1. paragraph shall not, however, apply to the distribution of liquidation proceeds which are taxable for associations and companies after Corporation Tax Act section 5 (B), paragraph 4, and the merger Tax Act section 12, paragraph 3, and in the case where the distribution of liquidation proceeds after tax § 16 (A), paragraph 3, nr. 1, must be assimilated to yield. By the distribution of liquidation proceeds from an investment institution with minimum taxation covered by section 21, shall 1. paragraph only apply to the extent the distribution is in excess of the minimum income, see. equation section 16 (C) (3). '

3. In the heading before section 3 and the heading before section 27 shall be replaced by ' unit trust ' to: ' investment certificates '.

4. In article 14, paragraph 1, shall be inserted after ' selvangivelsesfristen ': ' after tax kontrollovens § 4, paragraph 1, 1st paragraph, '.

5. In section 14 is inserted as paragraph 5: ' paragraph 5. For shares acquired by the distribution of an estate, where inventory is submitted after the time limit referred to in paragraph 1, the condition set out in paragraph 1 shall be deemed to be fulfilled if the distribution recipient no later than simultaneously with the filing of the inventory of the estate shall give the information specified in paragraph 1 to the Customs and tax administration. '

6. In the heading of Chapter 5, the heading before section 19 and the heading before section 20 shall be replaced by ' unit trust ' to: ' investment certificates '.

7. In article 19, paragraph 2, no. 1, the words ' Council Directive 85/611/EEC ' is replaced by: ' the European Parliament and of the Council directive 2009/65/EC '.

8. section 19 (4), 2. paragraph is replaced by the following:

» An investment firm as referred to in paragraph 2 includes neither a custodian Association, which satisfies the conditions laid down in § 2, 2. and (3). paragraph, of the law on taxation of members of custodian trusts. '

9. The heading before section 20 (A) is replaced by the following:

» Investment certificates of investment undertakings with minimum taxation

Companies, etc. ' 10. section 20 (A), paragraph 2 is replaced by the following: ' (2). For the investment institutions that have less than eight participants, it is a condition of being able to deduct losses that UCITS does not invest in receivables, as a participant in a UCITS is consolidated with after § 4 Exch. rate gains (2). '

11. The heading to § 21 shall be replaced by the following:

» Investment certificates in equity UCITS with minimum taxation

Persons '.

12. In article 21, paragraph 2, the words ' A distributing mutual fund ' to: ' a UCITS with minimum taxation ', and ' the Association ' shall be replaced by the three spots for:» the Foundation '.

13. In article 21, paragraph 4, shall be replaced by ' the investment ' for the Association: ' UCITS ', ' Association ' shall be replaced by: ' the Department ', and ' a distributing bond-based mutual fund ' shall be replaced by: ' a bond based UCITS with minimum taxation '.

14. In article 21, paragraph 5, the words ' investment company ' to: ' UCITS ', ' investment company ' shall be replaced by two spots for: ' UCITS ', and ' distributing ' society ' are replaced by: ' an investment institution with minimum taxation '.

15. The heading of section 22 is replaced by the following:

» Investment certificates in bond funds (UCITS) with minimum taxation

Persons '.

16. section 22 (1), (3). paragraphs, are hereby repealed.

17. In article 22, paragraph 2, the words ' A distributing mutual fund ' to: ' a UCITS with minimum taxation ', and ' the Association ' shall be replaced by the three spots for:» the Foundation '.

18. In article 22, paragraph 4, shall be replaced by ' the investment ' for the Association: ' UCITS ', ' Association ' shall be replaced by: ' the Department ', and ' distributing share-based mutual fund ' shall be replaced by: ' a share-based investment institution '.

19. In article 22, paragraph 5, the words ' investment company ' to: ' UCITS ', ' investment company ' shall be replaced by two spots for: ' UCITS ', and ' distributing ' society ' are replaced by: ' an investment institution with minimum taxation '.

20. In article 22, paragraph 6, shall be replaced by ' sections 12-13 A ' to: ' sections 5 (A), 12-13 (A) '.

21. In article 23, paragraph 7, 2. paragraph shall be added after ' different income year ': ' and in the case of shares that are not admitted to trading on a regulated market or registered in a central securities depository '.

22. In article 23, paragraph 8, 1. paragraph, the words ' proof ' to: ' investment unit certificate ', ' a ' to: ' mutual fund an investment institution with minimum taxation ', ' proof ' to: ' investment unit certificate ' and ' the Association ' to: ' the Foundation '.

23. Article 24, paragraph 5, shall be repealed.

Paragraph 6 becomes paragraph 5.

24. In article 27, paragraph 1, the words ' a distribution-only amount ' to: ' minimum income ', ' Council Directive 85/611/EEC ' shall be replaced by: ' the European Parliament and of the Council directive 2009/65/EC ', and two spots shall be replaced by ' the investment ' for the Association: ' UCITS '.

25. In article 27, paragraph 2, no. 1, change the two places ' the Association ' to: ' the Department '.

26. In article 27, paragraph 4, the words ' the proof of the distributing unit investment fund ' to: ' investment certificates of investment undertakings with minimum taxation ', ' this ' is replaced by: ' the Department ', and ' Council Directive 85/611/EEC ' shall be replaced by: ' the European Parliament and of the Council directive 2009/65/EC '.

27. In article 33, paragraph 1, the words two places» the Association or company ' to: ' company, etc. ', ' members ' shall be replaced by: ' participants ', and ' the company or association ' shall be replaced by: ' company, etc. ' 28. In article 33, paragraph 3, the words ' of its members ' to: ' participants ', ' Association, etc. ' is replaced by: ' company, etc. ', in two places, the words ' a distributing bond-based mutual fund ' to: ' a bond based UCITS with minimum taxation ', and ' distributing share-based mutual fund ' shall be replaced by: ' a share-based investment institution with minimum taxation '.

29. section 33 (4), is repealed.

Paragraph 5-9 becomes paragraph 4-8.

30. In article 33, paragraph 5, which becomes paragraph 4, the words ' distributions ': ' distributions, etc. ', ' paid ' is replaced by: ' teased ', ' distribution ' shall be replaced by: ' draw etc. ', and ' minimum distribution ' shall be replaced by: ' minimum income '.

31. In article 33, paragraph 6, 3. point, there will be (5), 3. paragraph, the words ' minimum distribution ' to: ' minimum income '.

32. In article 33, paragraph 7, which becomes paragraph 6, the words ' a ' society ' to: ' a mutual fund or UCITS with minimum taxation ', and ' members ' shall be replaced by: ' participants '.

33. In article 33, paragraph 9, which becomes paragraph 8, the words ' members of the ' to: ' participants in ' and after ' or ' reads ' as members of '.

34. In paragraph 39 (B) paragraph 5 shall be inserted: ' (5). If the person at the time of the transfer of shares owned on which total was calculated a net loss, there may be an increase in the market value of the shares, that person still owns at the time of the calendar. The increase in the share of net loss occurs with corresponding to the proportional share of the total value of the calendar date of the shares included in determining net loss, and which remains in the person's possession upon return transfer to Denmark. '

35. The heading before section 45 which has been repealed, should be repealed.

36. The heading before section 45 (A), which is repealed shall be repealed.

37. Annex 1 is replaced by the following: ' Annex 1



European Parliament and Council directive 2009/65/EC: ...

Article 1



1. This Directive shall apply to undertakings for collective investment in transferable securities (UCITS), as is established in the territory of the Member States.

2. for the purposes of this directive, and without prejudice to article 3, the term investment Department an undertaking: (a)) that the sole object of which is the collective investment in transferable securities or other in article 50, paragraph 1, referred to liquid financial assets of capital raised from the public and which operate on the principle of risk-spreading, and (b)) the units of which are, at the request of holders, repurchased or redeemed, directly or indirectly, of funds by these institutions ' assets. The fact that a UCITS shall take measures to ensure that the stock exchange value of its units does not deviate from their net asset value, shall be assimilated to such repurchase or redemption.


Member States may allow investment companies is made up of several investment departments.

3. The institutions referred to in paragraph 2 may be established in accordance with the agreement (investment funds managed by the management company), as ' trusts ' (' unit trusts) or under statute (investment firms).

In accordance with the provisions of this Directive shall include: (a) the term ' investment fund ') also the concept of ' unit trust ' b) whereas the term ' shares ' in UCITS also shares in UCITS.

4. This directive does not cover investment companies whose assets through subsidiaries mainly invested in values other than securities.

5. ...

6. ...

7. ...

. . .

Article 3 the following institutions shall not be considered within the scope of this directive: (a)) closed-end collective investment b) collective investment undertakings which raise capital without seeking to offer their shares to the public in the community or a part of this c) undertakings for collective investment, the units pursuant to the Fund rules or the investment company's instruments of incorporation may only be sold to the general public in third countries d) the categories of undertakings for collective investment laid down in the provisions of the Member State where such collective investment undertaking is established and for which the rules laid down in Chapter VII and article 83 due to institutions ' investment and borrowing policy is inappropriate.

…«.

§ 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 no later than by section 13 of the Act No. 1382 of 28. December 2011, is amended as follows: 1. In section 4, paragraph 3, point 7., and § 5 (2), 14. and 15. paragraph, the words ' section 16 (A), paragraph 6 ' to: ' section 16 (A), paragraph 5 '.

§ 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 and article 3 of law No. 254 of 30. March 2011, is amended as follows: 1. In article 3, paragraph 3, 2nd paragraph, changed two spots ' unit trust ' to: ' investment certificates ', and ' investment company ' shall be replaced by: ' UCITS '.

§ 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 2009 and section 4 of Act No. 254 of 30. March 2011, shall be amended as follows: 1. In article 8, paragraph 8, shall be inserted after ' the rules of ': ' equation section 16 C, paragraph 8, '.

2. In section 14, nr. 7, the words ' equation article 16 c, paragraph 1 1. point, said distributing investment funds ' to: ' equation § 16 (C) UCITS with minimum taxation ', ' the one ' society ' are replaced by: ' one Department ', and ' the other ' Association ' shall be replaced by: ' the second institution '.

3. paragraph 15 (a), paragraph 4, nr. 2, is replaced by the following: ' 2) By cleavage of the equation referred to in section 16 (C) UCITS with minimum taxation, however, on condition that it or the receiving UCITS is a UCITS with minimum taxation as referred to in section 16 C equation. '

§ 5

In kildeskatteloven of the basic regulation. lovbekendtgørelse nr. 1403 of 7. December 2010, as amended, inter alia, by section 4 of Act No. 459 of 12. June 2009, section 5 of law No. 254 of 30. March 2011 and 5 of law No. 1382 of 28. December 2011 and no later than the section 11 of Act No. 118 of 7. February 2012, shall be amended as follows: 1. In article 2, paragraph 1, no. 6, 2. paragraph, the words ' distributions from distributing investment funds, see. equation section 16 C, paragraph 1 ' are replaced by: ' dividends from investment institutions with minimum taxation subject to section 16 C equation ', ' investment Association's ' shall be replaced by: ' UCITS ', and ' and derivative financial instruments in accordance with the FSA rules thereof ' shall be replaced by: ', derivative financial instruments in accordance with the FSA rules and evidence of collective-investment undertakings with minimum taxation subject to section 16 C equation that solely invests in assets as mentioned in this provision '.

2. In paragraph 49 (A), paragraph 2, no. 6, the words ' section 16 (A), paragraph 6 ' to: ' section 16 (A), paragraph 5 '.

3. In article 65, paragraph 1 1. paragraph 2 (h) shall be replaced by ' and 4 ' to: ' 2 h, 4 and 5 (a) ' and ' (4) or paragraphs 5-8 ' is replaced by: ' paragraph 3 or paragraphs 4-6 '.

4. In section 65 (1), (2). paragraph 6 shall be replaced by ' paragraph ', to: ' paragraph 5 '.

5. section 65 (1), 4. paragraphs, are hereby repealed.

6. section 65 (3), is repealed.

Paragraph 4-8 will be hereafter referred to paragraphs 3 to 7.

7. paragraph 65, paragraph 8, there will be (7) should be repealed and be replaced by: ' (7). UCITS with minimum taxation subject to section 16 C shall be assessed down payment or credit is given by yield contain 27 percent of the total proceeds, without prejudice to paragraph 6, 8, 11 or 13. It contained amounts referred to as dividend tax. The provision in article 46, paragraph 3, shall apply mutatis mutandis.

(8). Contained no dividend tax of dividends from investment institutions with minimum taxation subject to section 16 C equation that solely invests in debt-claims within the scope of kursgevinstloven, shares of the management company responsible for the administration of UCITS, derivative financial instruments in accordance with the FSA rules and evidence of collective-investment undertakings with minimum taxation subject to section 16 C equation that solely invests in assets as referred to in this provision. Also contained are not dividend tax of dividends from investment institutions with minimum taxation subject to section 16 C equation to the investment firms referred to in article 6. stock profit taxation Act § 19, if the institution after its statutes cannot invest in shares or interests in companies domiciled in this country except for shares of the management company in charge of the institution's administration.

(9). Investment firms referred to in article 6. Corporation Tax Act section 3 (1) (8). 19, for the payment or credit is given by yield contain 27 per cent of the total proceeds, unless otherwise follows from paragraphs 6, 10, 11 or 13. It contained amounts referred to as dividend tax. The provision in article 46, paragraph 3, shall apply mutatis mutandis.

Paragraph 10. Contained no dividend tax of dividends from the investment firms referred to in article 6. Corporation Tax Act section 3 (1) (8). 19, to the investment firms referred to in article 6. stock profit taxation Act § 19, if the former company after its statutes cannot invest in shares or interests in companies domiciled in this country except for shares of the management company in charge of the company's administration. Furthermore, there is no dividend tax withheld in the yield of an investment firm referred to in article 6. Corporation Tax Act section 3 (1) (8). 19, own shares.

Paragraph 11. Contained 15% in dividend tax of dividends of shares charged to the investment firms referred to in article 6. stock profit taxation Act § 19 resident in this country. Furthermore, contained 15% in dividend tax of dividends of shares charged to the UCITS with minimum taxation, see. equation section 16 (C), that is resident in this country.

Paragraph 12. An account leading mutual fund, which acquires the right to dividend, which is not in accordance with paragraph 3 contained dividend tax, must, except as otherwise provided in accordance with paragraph 3 or to paragraphs 4 or 5, include dividend tax of that amount according to the rules laid down in paragraphs 1, 2, 7-11 or 13. In these cases the dividends tax payments are due at the time of vesting, and the rules in § 66 shall apply mutatis mutandis.

Paragraph 13. Tax Minister may lay down rules on the required evidence that the deduction with a 15 percent or 0 percent. in accordance with paragraph 8, 2. paragraph, can take place. Tax Minister may lay down rules to the effect that the deduction of withholding tax should not take place at the payout to UCITS with minimum taxation, see. equation section 16 (C). ' 8. In section 67, paragraph 6, the words ' paragraph 4 ': ' paragraph 3 '.

§ 6

The law on taxation of members of custodian trusts, see. lovbekendtgørelse nr. 962 of 19. September 2011, is amended as follows: 1. § 2, 3.-5. paragraph, shall be repealed, and replaced by:

» The proportionate return, etc., is calculated according to the ratio of the duck's denomination and nominal of all units of the Association or the Department. 2. and 3. paragraph shall not apply to the pension yield tax members. '

§ 7

Of the law on the tax treatment of gains and losses on receivables, debt and financial contracts (kursgevinstloven), see. lovbekendtgørelse nr. 916 of 19. August 2011, as amended by section 6 of the law No. 1382 of 28. December 2011 and section 12 of Act No. 118 of 7. February 2012, shall be amended as follows: 1. In article 14, paragraph 1, and article 23, paragraph 2., the term ' unit trust in distributing bond-based mutual funds ' to: ' investment certificates in bond funds (UCITS) with minimum taxation '.

2. In article 15, paragraph 1, shall be inserted after ' selvangivelsesfristen ': ' after tax kontrollovens § 4 (1) 1 point ' 3. In § 15 paragraph 5 is inserted: ' (5). For debts acquired by the distribution of an estate, where inventory is submitted after the time limit referred to in paragraph 1, the condition set out in paragraph 1 shall be deemed to be fulfilled if the distribution recipient no later than simultaneously with the filing of the inventory of the estate shall give the information specified in paragraph 1 to the Customs and tax administration. '

4. section 34 (A), paragraph 1 is replaced by the following:


' If an accumulative investment Association, see. Corporation Tax Act § 1 (1) (8). 5 (a), a UCITS with minimum taxation, see. equation section 16 (C), or an investment firm referred to in article 6. stock profit taxation Act § 19, change the tax status, so that the participants are taxed as participants in a business partnership, Association, Foundation or company without dissolved, shall rule in the stock profit taxation Act section 33, paragraph 7, by analogy to the stakeholder community claims, debt and financial contracts. '

5. In paragraph 34 (A), paragraph 3, the words ' members of a distributing mutual fund ' to: ' participant in a UCITS with minimum taxation ', and ' a custodian Association ' shall be replaced by: ' as members of a custodian Association '.

6. In paragraph 38 (B) paragraph 5 shall be inserted: ' (5). If the person at the time of transfer of receivables owned and contracts, which total was calculated a net loss, there may be an increase in the market value of the debts and contracts that the person still owns at the time of the calendar. The increase in the share of net loss occurs with corresponding to either the substance or the relative share of the total value of the contract at the time of their new entitlements and contracts, which were included in determining the net loss, and which remains in the person's possession at the back the move to Denmark. Have a negative value on the calendar at the time of contract, there is no regulation of the value, and in establishing the total value at the time of the calendar, see. 2. item, set the value of the contract to 0. Is the total value at the time of the calendar in 2. paragraph mentioned claims and contracts, there is no regulation of negative commercial value. '

§ 8

Of the law on the imposition of income tax to the State (the tax assessment Act), see. lovbekendtgørelse nr. 1017 of 28. October 2011, as amended, inter alia, by section 3 of Act No. 624 of 14. June 2011 and § 1 of lov nr. 1382 of 28. December 2011 and no later than by section 5 of law No. 273 of 27. March 2012, shall be amended as follows: 1. section 7 R is repealed.

2. In paragraph 16 (A), paragraph 2, no. 2, the words ' a mutual fund ' to: ' a UCITS with minimum taxation ', and ' minimum dividend payout, see. § 16 (C), (2) and 13 ' shall be replaced by: ' without prejudice to the minimum income. § 16 (C) (3) '.

3. In article 16 A, paragraph 2, no. 3, the words ' minimum distribution under section 16 (C), (2) or 13 ' to: ' minimum income under section 16 (C) (3) '.

4. In article 16 A, paragraph 2, no. 4, shall be inserted after ' a company ': ', investment firm with minimum taxation ', and ' company ' reads ' the institution '.

5. section 16 (A), paragraph 4, nr. 3, is replaced by the following: ' 3.) the part of the minimum income from UCITS with minimum taxation, see. § 16 (C) referred to in section 16 C, paragraph 4, nr. 10 if the income received by individuals, etc. that are taxable after withholding tax Act § 1 or estate section 1, paragraph 2. Tax-exempt opinion does not however apply if the recipient of the income is covered by section 13 of the Act foreign exchange gain. '

6. section 16 (A), paragraph 5, shall be repealed.

Paragraph 6 becomes paragraph 5.

7. In article 16 (B), (2). 1, 1. paragraph, the words ' the issue ' shall be replaced by: ' acquisition '.

8. In section 16 (B), (2). 4, two spots in § 16 H (1). 3, and in section 16 in (1), the words ' unit trust ' to: ' investment certificates '.

9. section 16 C shall be replaced by the following: ' § 16 (C). when a UCITS with minimum taxation means a Department issuing negotiable certificates of deposits, and participants who have chosen that the institution's income should be taxed at the participants. A UCITS must determine a minimum income in accordance with the rules in paragraphs 3-8.

(2). The evidence of a UCITS with minimum taxation or departments must justify all participants to the same proportional share of this year's returns of each asset or liability of the Institute or a Department therein. The proportionate return is calculated according to the ratio between the nominal and nominal value of all the evidence in the Department or a Department therein. A UCITS may regardless of 1. item select, that income will be taxed at the participants, although there are traded or issued certificates without entitlement to dividend income in the period from the end of the year to the earliest date for the adoption of yield, respectively, the time of the Department's approval of the accounts for the previous income year in which the Department does not make an actual adoption of yield.

(3). Minimum income is the sum of the income of the year revenue referred to in paragraph 4 with deduction of loss in accordance with paragraph 5 and expenditure in accordance with paragraph 6. If a UCITS with minimum taxation ceases or choose to change the tax status, minimum income is calculated for the period from the beginning of the year until the income respectively sunset time or transition to different tax status. By the estimation of minimum income upon termination, paragraphs 7, 1. paragraph shall not apply.

(4). In minimum income includes the following revenue: 1) grossed interest and annuities, spread over the period to which the income relates.

2) Remuneration for the lending of securities.

3) grossed dividends pursuant to section 16 (A) deducted from the withholding tax and repayment attributed contained dividend tax, transfer sums of money under section 16 (B) and the borrower's payment to the lender of the latter's lack of dividend by the stock lending.

4) Gain on claims, see. Exch. rate gains section 14, paragraph 1, to the extent the gain not covered by nr. 10. The gain is calculated in accordance with section 26 of the Act, foreign exchange gain (5). However, the Department may choose to count the gain of all the accounts in foreign currency after average method, see. Exch. rate gains section 26, paragraph 4. Average method is chosen, the Institute not later choose to quantify gain after foreign exchange gain section 26, paragraph 5.

5) Gain on debt subject to the foreign exchange gain section 6.

6) Gain on financial contracts governed by section 29 of the Act. foreign exchange gain The gain is calculated in accordance with § 33 foreign exchange gain.

7) loss on the sale of securities, etc. covered by the stock profit tax Act, with the exception of shares, etc. covered by the stock profit taxation Act § 19. The gain is calculated after the stock profit taxation Act section 25 and section 26, paragraphs 2 to 4 and 6.

8) Gain on shares, etc. covered by the stock profit taxation Act § 19. The gain is calculated after the stock profit tax section 23, paragraph 7.

9) amounts that are made as a result of a rounding down of minimum income, see. (7).

10) Gain on debts in Danish kroner, which is acquired before the 27. January 2010, and that at the time of acquisition were met by the mindsterente requirement for foreign exchange gain § 38, see. lovbekendtgørelse nr. 1002 of 26. October 2009, less any losses on such claims. However, losses may only be deducted to the extent that the losses do not exceed the gains.

(5). Of the total amount in accordance with paragraph 4, no. 1-9, be deducted from the loss, etc.: 1) loss on claims subject to the foreign exchange gain § 14 (1), except for losses covered by paragraph 4, nr. 10, and losses on receivables in Danish kroner, which is acquired before the 27. January 2010, and that at the time of acquisition did not meet the requirement for foreign exchange gain mindsterente § 38 of the basic regulation. lovbekendtgørelse nr. 1002 of 26. October 2009. For investment funds subject to the corporate tax Act section 1, paragraph 8, this is not, however, losses on receivables, with which a member of the Association is consolidated regulation. § 4 Exch. rate gains when the claim also covered by § 4 Exch. rate gains. The loss of the basic regulation. 1. articles shall be determined in accordance with section 26 of the Act, foreign exchange gain (5), since paragraph 4, nr. 4, 3. and (4). paragraph shall apply mutatis mutandis.

2) loss on financial contracts governed by section 29 of the Act. foreign exchange gain The loss is calculated according to § 33 foreign exchange gain.

3) loss on sale of securities, etc. covered by the stock profit tax Act, with the exception of shares, etc. covered by the stock profit taxation Act § 19. The loss is calculated after the stock profit taxation Act section 25 and section 26, paragraphs 2 to 4 and 6.

4) loss on shares, etc. covered by the stock profit taxation Act § 19. The loss is calculated after the stock profit tax section 23, paragraph 7.

5) Amount claimed under paragraph 8 as a result of a negative minimum income.

6) amount is applied to the redemption of certificates, to the extent that the amount can be attributed to income referred to in paragraph 4, no. 1-9, acquired before or as a result of the redemption, see. However, paragraph 9.

(6). A UCITS may, by statement of minimum income to deduct the costs of administration, to the extent that the expenditure does not exceed any positive amount calculated in accordance with paragraph 4, no. 1-9, and paragraph 5.

(7). Minimum income can be rounded down to the nearest amount divisible by 0.10% of the face value of the certificate. Amount after 1. item not to be included in the minimum income, be carried over to the minimum income in the following year. An interim ascertained always as it actually paid.

(8). A negative minimum income carried forward for deduction in determining the minimum income in the following year.


(9). UCITS which is minimum taxed, can choose to make an adjustment of the income losses and administrative expenses, see. paragraph 4-6 that are included in the estimation of minimum income, as a result of the issue of new evidence and the redemption of the certificates. If it chooses to make a regulation as mentioned in 1. paragraph, a UCITS by statement of income of the year minimum income, however, does not make deductions for the amount covered by paragraph 5, nr. 6. The regulation after 1. paragraph shall be amended as follows: 1) by the issue of new evidence increases the revenue losses and administrative costs until the time of emission, which must be taken into account in the calculation of the minimum income after the emission. The increase of individual income, losses and administrative expenses is according to the ratio between the nominal value of all the evidence after the emission and the face value of all the evidence before emission. Increase in loss occurs, however, in the case of a mutual fund subject to the corporate tax Act section 1, paragraph 8, at the time the loss occurs. Group related members, see. Exch. rate gains § 4, counted in this context for one member.

2) redemption of the certificates shall be reduced by the income losses and administrative costs until the redemption date, which shall be taken into account in the calculation of the minimum income for redemption. The reduction of individual income, losses and administrative expenses is according to the ratio between the nominal value of all the evidence after the redemption and the face value of all the evidence before redemption.

Paragraph 10. The election referred to in paragraph 1 of the tax status of investment Department with minimum taxation must be taken before the first of the Institute's income year for which the choice applies. In a newly created UCITS must the choice be made in connection with the establishment, if it is to apply from the Institute's first income year. The election has only effect on income year commencing after the notice of election is submitted to the Customs and tax administration. For newly created UCITS, as referred to. 2. points, however, elections can have earlier effect, if the message is submitted to the Customs and tax administration not later than 3 months after the creation, at the latest before the end of the first of the Institute's income year for which the election will be valid. A UCITS must within the same time limit as specified in 3. and (4). Pkt. submit notification to customs and tax administration about whether the Institute is share-based, see. stock profit taxation Act § 21, or bond based, see. stock profit tax law § 22.

Paragraph 11. A UCITS shall, within 2 months after the Department's approval of the accounts, but not later than 6 months after the end of the Foundation's income year, submit information to the tax and customs administration on the amount of the minimum income and its composition and information on any difference, if the amount actually assigned to the participants, in excess of the minimum income. In addition, the Foundation shall, within the in 1. item specified time limit to submit information to the tax and customs administration on minimum income and any merbeløbs consistency with the Foundation's income in the year in which the minimum income is derived from.

Paragraph 12. If the notification under paragraph 10 or information not submitted on time in accordance with paragraph 11, taxed the participants of gains and losses on evidence in a UCITS, which are derived from income years beginning with the tax year prior to the lack of timely submission of information and then the following 4 income year, according to the rules of the stock profit taxation Act § 19. 1. paragraph apply accordingly, if no is given timely and correct information on the minimum income, etc. and the composition thereof to participants ' central securities depository or financial institution, etc. here in the country, see. tax kontrollovens section 10 (A), and the depositaries or account officers abroad, see. tax kontrollovens section 11 (B) so as to enable them to submit timely reporting. If a UCITS is missing from the timely and correct information for several consecutive years, maintained the taxation after stock profit taxation Act § 19, starting in the first year, there is a lack of timely and accurate information, up to and including the fourth year following the last year, there is a lack of timely and accurate information.

Paragraph 13. If a UCITS with minimum taxation, see. paragraph 1, after the following select tax status of investment firms referred to in article 6. stock profit taxation Act § 19, an institution must submit a notice to the Customs and tax administration. The election has only effect on the of the Foundation's income year commencing after the notification of the election of the tax status of investment firms is submitted to the Customs and tax administration. Gains and losses on the evidence of the Department arising from income years beginning with the year in which the choice of status change apply to, and then the following 4 income year is taxed according to the rules in the stock profit tax Act § 19.

Paragraph 14. Tax Minister may lay down detailed rules on disclosure, etc., in accordance with paragraph 11. '

10. In section 30 (A) (1). 2, the words ' no. 10 or 12 ' to: ' no. 9 or 11 '.

§ 9

Of the law on income tax of individuals etc. (Spanish law), see. lovbekendtgørelse nr. 143 of 8. February 2011, as amended by section 2 of Act No. 554 of 1. June 2011 and section 9 of Act No. 599 of 14. June 2011, shall be amended as follows: 1. In section 4, paragraph 1, no. 4 ' and 5 ' shall be deleted.

2. section 4 (1) (8). 9, is repealed.

No. 10-18 is then no. 9-17.3. § 4 (1) (8). 18, there will be no. 17, is repealed.

4. In section 4, paragraph 6, the words ' no. 12 ' to: ' no. 11 '.

5. In section 4, paragraph 7, the words ' no. 10 ' to: ' no. 9 '.

6. In paragraph 4 (a) (1). 1 and 2, the words ' or 4 ' to: ', 4 or 5 a '.

7. paragraph 4 (a) (1). 3, is replaced by the following: ' 3) taxable dividends from equity based UCITS with minimum taxation, see. stock profit taxation Act § 21, and '.

8. In paragraph 4 (a), paragraph 2 2. paragraph, the words ' section 16 (A), paragraph 6 ' to: ' section 16 (A), paragraph 5 '.

9. In article 13, paragraph 6, the words two places» nr. 10 or 12 ' to: ' no. 9 or 11 '.

§ 10

Of the law on income taxation of limited liability companies, etc. (Corporation Tax Act), see. lovbekendtgørelse nr. 1376 of 7. December 2010, as amended, inter alia, by section 8 of Act No. 254 of 30. March 2011 and section 4 of Act No. 624 of 14. June 2011 at the latest and by § 10 of lov nr. 326 of 11. April 2012, shall be amended as follows: 1. In article 1, paragraph 1, no. 5 (a), the words ' the distributing trusts, see. equation section 16 C ': ' UCITS with minimum taxation, see. equation section 16 (C), there are special investment funds '.

2. In section 1, paragraph 7, 1. paragraph, shall be replaced by ' distributing mutual fund ' to: ' mutual fund subject to assessment section 16 C '.

3. In article 1, paragraph 8, the words ' distributing mutual fund ' to: ' mutual fund subject to section 16 C equation ', ' profit at the unit certificate ' shall be replaced by: ' gains on investment proof ', ' distribution ' shall be replaced by: ' income ', and ' distributing investment funds ' shall be replaced by: ' special investment funds subject to section 16 C ' equation.

4. In article 2, paragraph 1 (c), 1. paragraph, the words ' distributions from distributing investment funds, see. equation section 16 C, paragraph 1 ' are replaced by: ' dividends from investment institutions with minimum taxation subject to section 16 C equation ', ' investment Association's ' shall be replaced by: ' UCITS ', and ' and derivative financial instruments in accordance with the FSA rules thereof ' shall be replaced by: ', derivative financial instruments in accordance with the FSA rules and evidence of collective-investment undertakings with minimum taxation subject to section 16 C equation that solely invests in assets as mentioned in this provision '.

5. In section 3, paragraph 1, no. 19, 1. paragraph, the words ' without prejudice to article. law on taxation of members of custodian trusts § 2, and aside from distributing investment funds, see. equation section 16 C, paragraph 1 ' are replaced by: ' without prejudice to article. § 2 of the law on taxation of members of custodian trusts, and except for UCITS with minimum taxation, see. equation section 16 C '.

6. In section 3, paragraph 1, no. 19, 2. paragraph shall be added after ' with 15% ': ', except in the case of dividends by the investment firm's own shares '.

7. In section 3, paragraph 1, no. 19, 3. paragraph, the words two places» a distributing mutual fund regulation. equation section 16 C, paragraph 1 ' are replaced by: ' an investment institution with minimum taxation, see. equation section 16 C '.

8. In section 3, paragraph 1, no. 19, 5. paragraph, the words ' unit trust making the distribution in a mutual fund, see. equation section 16 C, paragraph 1 ' are replaced by: ' investment certificates of a UCITS with minimum taxation, see. equation section 16 C '.

9. In section 3, paragraph 1, no. 19, 6. paragraph, the words ' investment company ' to: ' UCITS ', and ' the Association ' shall be replaced by: ' the Foundation '.

10. In paragraph 5 (F) of paragraph 1, the words ' the company's or Association's, etc. ' to: ' company, etc. ', ' company or an association, etc. ' shall be replaced by: ' company, etc. ', in three places, the words ' a distributing mutual fund ' to: ' a UCITS with minimum taxation ', ' distributing share-based mutual fund ' shall be replaced by: ' a share-based investment institution with minimum taxation ', and ' a distributing bond-based mutual fund ' shall be replaced by: ' a bond based UCITS with minimum taxation '.


11. In paragraph 5 (F) of paragraph 5, the words ' a distributing bond-based mutual fund ' to: ' a bond based UCITS with minimum taxation ', ' distributing share-based mutual fund ' shall be replaced by: ' a share-based investment institution with minimum taxation ', ' Association ' shall be replaced by: ' the Department ', and ' the Association ' shall be replaced by: ' the Foundation '.

12. section 13 (G) is replaced by the following: ' § 13 g. Stock profit taxation Act § 27 on increase of the acquisition cost by lack of effective payment of minimum income from an investment institution with minimum taxation applies to life insurance companies, although not a UCITS is a UCITS within the meaning of European Parliament and Council directive 2009/65/EC. '

13. In section 32 (1) (8). 3, the words ' unit trust ' to ' investment certificates '.

§ 11

In tax kontrolloven of the basic regulation. lovbekendtgørelse nr. 819 of 27. June 2011, as amended, inter alia, by section 2 of Act No. 462 of 12. June 2009 and § 19 of the lov nr. 516 of 12. June 2009 and at the latest by the section 11 of Act No. 326 of 11. April 2012, shall be amended as follows: 1. In article 2, paragraph 2, 1st paragraph, shall be replaced by ' paragraph 65, paragraph 6 ' to: ' section 65, paragraph 5 '.

2. In article 4, paragraph 1, no. 1, the words ' no. 10 or 12 ' to: ' no. 9 or 11 '.

3. In paragraph 7 (C) (1), (2). paragraph, the words ' section 16 (A), paragraph 6 ' to: ' section 16 (A), paragraph 5 '.

4. In section 8 X (1), and in two places in paragraph 3, the words ' Directive 85/611/EEC ' is replaced by: ' the European Parliament and of the Council directive 2009/65/EC '.

5. In paragraph 10 (A), paragraph 2, is amended in three places ' unit trust ' to: ' investment certificates ', and ' unit allegedly ' shall be replaced by: ' investment preservation '.

6. In paragraph 10 (A), paragraph 3, and section 11 (B), paragraph 2, the words ' special investment funds ' for: ' UCITS '.

7. In paragraph 10 (B) of paragraph 1, the words ' unit trust ' to: ' investment certificates '.

8. section 11 (B), paragraph 6, nr. 5, shall be replaced by the following: ' 5) size and composition of minimum income from an investment institution with minimum taxation, see. equation section 16 C, the actually paid amount and composition of any difference, if the amount paid exceeds the minimum income, all in accordance with information from UCITS. '

§ 12

The law on tax-exempt corporate conversion, see. lovbekendtgørelse nr. 963 of 19. September 2011, is amended as follows: 1. In article 1, paragraph 3, the words ' no. 10 and 12 ' to: ' no. 9 and 11 '.

section 13

Of the law on the taxation of income of self-employed persons (Corporate Tax Act), see. lovbekendtgørelse nr. 1075 by 10. September 2007, as amended most recently by section 11 of Act No. 1382 of 28. December 2011, shall be amended as follows: 1. In article 1 (1), (2) section, and section 22 (a), paragraph 7, point 1, the words ' no. 10 or 12 ' to: ' no. 9 or 11 '.

2. In section 22 (a), paragraph 3, nr. 2, the words ' no. 10 and 12 ' to: ' no. 9 and 11 '.

§ 14

Of the law on the assessment of the country's immovable properties, see. lovbekendtgørelse nr. 740 of 3. September 2002, as amended, inter alia, by section 11 of Act No. 406 of 8. May 2006 and section 11 of Act No. 514 of 7. June 2006 and most recently by section 20 of the Act No. 525 of 12. June 2009, is amended as follows: 1. In article 33, paragraph 5, point 3, paragraph 6, 3 section, and paragraph 7, 3. paragraph, the words ' section 16 (A), paragraph 6 ' to: ' section 16 (A), paragraph 5 '.

§ 15 paragraph 1. The law shall enter into force on the 1. July 2012.

(2). § 1, nr. 1-3, 6, 8-15, 17-19, 22 and 24-33, §§ 2-6, § 7, nr. 1, 4 and 5, § 8, nr. 2-9, § 9, nr. 1, 3 and 6-8, section 10, section 11, no. 1, 3 and 5 to 8, section 12 and section 14 shall take effect from the 1. January 2013.

(3). § 1, nr. 4, and section 7, nr. 2, have effect for stocks and receivables acquired on 1. July 2012 or later.

(4). § 1, nr. 5, and section 7, nr. 3, shall take effect when the inventory of the estate take it 1. January 2012 or later.

(5). § 1, nr. 20, has effect for sell-offs, which will take place on 24. November 2010 or later.

(6). § 1, nr. 21, have effect from the shareholder's income year 2013. For the income year 2013 replaces the value at the beginning of the income year for the investment firm, which will expire in the shareholder's income year 2013 instead of the value at the beginning of the shareholder's income year. Is the shareholder's income year 2013 started before 1 January 2002. July 2012, § 1, nr. 21, however, the only effect from the shareholder's income year 2014. For the tax year 2014 enters the value at the beginning of the income year for the investment firm, which will expire in the shareholder's income year 2014, in the latter case, instead of the value at the beginning of the shareholder's income year.

(7). § 1, nr. 34, and section 7, nr. 6, have effect where moving to Denmark happens on 1. July 2012 or later.

(8). UCITS with minimum taxation, see. equation section 16 (C) of the basic regulation. This law § 8, nr. 9, by declaration of the minimum income for the income year 2013 deduct losses on shares and financial contracts, there are identified in the income year 2012 or earlier, and which could not be deducted, at the latest by the inventory of the minimum dividend payout for income year 2012, see. equation section 16 C, paragraph 3, nr. 5 and 6, in lovbekendtgørelse nr. 1017 of 28. October 2011. Similarly, negative amounts subject to section 16 (C), equation (6) of lovbekendtgørelse nr. 1017 of 28. October 2011, which is found in the income year 2012 or earlier, and which could not be deducted, at the latest by the inventory of the minimum dividend payout for the year 2012, deducted on the income statement of the minimum income for the income year 2013.

(9). If a distributing mutual fund before the 1. January 2013 has taken a decision on taxation according to § 16 C equation, paragraph 13, of the basic regulation. lovbekendtgørelse nr. 1017 of 28. October 2011, the existing rules apply.

§ 16 law on housing savings, see. lovbekendtgørelse nr. 107 of 21. February 2005, is repealed.

Given at Amalienborg, the 16. may 2012 Under Our Royal hand and Seal MARGRETHE r./Thor Möger P

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