Parliament Act no. 9 of 3 December 2012 amending Rule Act on Income Tax (Taxation of vakantboliger, restricting deductions for interest expenses and tightening of depreciation rules)
Modified repeals, hovedlov replaces information
Parliament Act no. 12 of 2 November 2006 Income Tax
In Rule Act no. 12 of 2 November 2006 on income tax, as last amended by the Parliament Act no. 20 of 18 November 2010, is amended as follows:
First In § 15 the following paragraph. 5:
"Paragraph. 5. The calculation of taxable income, interest expenses, see. Paragraph. 1-3 deducted by 90 percent of the amount due. The limitation in the first sentence shall not apply, provided that the expenditure incurred for business purposes. "
Second After § 19 is added:
"§ 19a. In the calculation of taxable income, the value of housing, including prævakant and vacant dwellings made entirely or partially free of charge, see. However, § 34 paragraph. 1, no. 3. "
third § 22 paragraph. 1 is replaced by:
"Companies etc., which are fully taxable under § 1. 1, no. 3-14, or limited tax liability in accordance with § 2, of the assets can be depreciated according to it pursuant to § 24 paragraph. 1 pt. 1, issued depreciation Order, perform a maximum of depreciation for tax purposes by an amount representing the sum of the depreciation that can be made under paragraph. 2. "
fourth In § 22 paragraph. 2, no. 4, the word "kr. 100,000 "to" 50,000 kr. "
Fifth § 23 shall read:
"§ 23. A person who is liable to tax under § 1. 1 pt. 1 and 2, or limited tax liability in accordance with § 2 and which acquire income from self-employment, on the assets that can be depreciated according to it pursuant to § 24 paragraph. 1 pt. 1, issued depreciation Order, perform a maximum of depreciation for tax purposes by an amount representing the sum of the depreciation that can be made under paragraph. 2.
Subsection. 2. Tax depreciation may in individual years at most be made at the following rates:
1) With up to 5 percent a year of the acquisition cost of buildings and installations.
2) With up to 10 percent annually of the acquisition cost for ships and aircraft.
3) For other depreciable expenses, etc. respectively acquisition costs of operating equipment, fixtures and intangible assets, etc., can be amortized up to 30 percent based on the depreciable balance value of the income year.
4) With up to 100 percent of the cost or acquisition price of the no. 3 above assets if the expense was the cost of acquisition for each asset is 100,000 kr. Or less.
Subsection. 3. Operators referred to in paragraph. 1 to compiling a comprehensive account of depreciable expenses as assets with longer automatically covered by paragraph. 2, Nos. 3 and 4. Depreciation is made on the basis of the depreciable balance value of the income year. This value is calculated as the balance of the value of the income year beginning with the addition of depreciable expenses, respectively acquisition cost for operating equipment, etc., acquired in the tax year and less the selling price of operating equipment, etc., are sold in the income year and depreciation under paragraph. 2, no. 4. Costs of improvement are treated the same way as acquisition costs. Balance value of income beginning of the year is the amount by which the assets etc. acquired respectively expenses incurred in previous accounting periods have been reduced by depreciation.
Subsection. 4. To the extent that the sale of assets, etc. covered by paragraph. 2, Nos. 3 and 4, causing the depreciation balance becomes negative, the negative balance of income in the same income year. "
6th § 24 paragraph. 1, no. 3, read:
"3) interest and current commissions on debt, without. However, § 15 paragraph. 4 and 5. "
The Greenland Parliament Act shall enter into force on 15 December 2012 and take effect from the income year 2013 under. However paragraph. 2.
Subsection. 2. The bill's Nos. 3 and 4 take effect from the income year 2012. For tax year 2012, which the sum of the depreciation that can be made under the Income Tax Act § 22 paragraph. 2 An amount equivalent to 25 percent of the company's taxable profits before tax but after depreciation for tax purposes by the Income Tax Act § 22 paragraph. 2 and 5. For tax year 2012 amounts to in § 22 paragraph. 2, no. 4, fixed amount 75,000 kr. Where income year 2012 for companies, etc. that have shifted income year include a financial year closes on 31 August 2012 or earlier, the Act will only take effect from the income year 2013. | ||
Greenland, December 3, 2012