Refunds are credited to your business NemKonto
We will refund the credit balance in your tax account to your business NemKonto within five working days.
This also applies if the credit balance is actually a payment you have made to your tax account earlier than five working days before your payment deadline. According to the Danish Debt Collection Act (Opkrævningsloven), authorities such as the Tax Agency may not keep money from businesses for more than five working days - then the money should be refunded.
But if the amount you have paid is less than your business refund limit, the amount will not be refunded - even if your payment is early. If you want to make your payments earlier than five working days before the payment deadline, you should increase your refund limit.
You can change your refund limit
If you have not set a refund limit, all refunds above DKK 200 will be credited to your account. The maximum refund limit is usually DKK 200,000 and we will not grant a dispensation to increase this limit. However, due to the extraordinary COVID-19 situation, the refund limit may temporarily be increased.
- You can increase the refund limit in your Tax Account up to DKK 350 million for the period of 1 February 2022 until 1 May 2023.
- The refund limit will automatically be reset to DKK 0 just after 1 February 2022 if it was more than DKK 350 million. If your business wants a refund limit after 1 February 2022, it will have to set a new limit according to the current rules.
- If your business refund limit is DKK 350 million or less, your business does not need to do anything unless you increase or lower the limit.
Example: A business with a refund limit of DKK 200,000 and a balance of DKK 200,500 is refunded DKK 500. If the balance is DKK 200,190, the surplus of DKK 190 will not be refunded, as amounts of DKK 200 or below are not refunded from the tax account.
If you have set a refund limit, but want a refund of your credit balance in your tax account, you have to change your refund limit to DKK 0. If you do so, you will be refunded any amount of DKK 200 or more. If you want a refund of less than DKK 200, please contact us.
First, we check to see if you owe money
Please note that if your business has debt that has been transferred to the Debt Collection Agency (Gældsstyrelsen) for debt collection, your refund limit is annulled. Once we have checked to see if you owe money to the public authorities, we will refund the money on the next banking day, but, depending on which bank you have, it may take another banking day before the money is available in your NemKonto.
Credit interest rate
From 1 September 2015: 0%
1 January 2014 - 31 August 2015: 0.1% per month, up to a maximum of DKK 5,000.