Your Tax Account provides a total overview of what you have declared and what you have paid as well as any possible outstanding amounts such as VAT, payroll tax, A-tax and labour market contributions, corporation tax on account, excise duties and environmental tax, other duties, fees and interest. 

In relation to COVID-19, it may be relevant for you to increase or lower the refund limit in your Tax Account. You may want to increase the refund limit if you want to kepp your VAT, payroll tax or A-tax loan.

Your refund limit in your Tax Account may be set at DKK 0 on 1 February 2022

On 1 February new legislation took effect and as a result the refund limit may maximum be DKK 350 million. If your business has had a refund limit of more than DKK 350 million, it has been reset at DKK 0 after 1 February 2022 and you will therefore be refunded any amount payable. If you would like a new refund limit, you may set it at maximim DKK 350 million. Read more about increasing your refund limit below.

If you want to repay your loan before the deadline, you can contact us via E-tax for businesses. Your email should include information about the type of loan and the date you wish to repay the loan - however, no sooner than 7 days after you send the request. We will then change the repayment deadline of your loan and you can repay it. The loan will still appear from the account status in your Tax Account.

When you want to repay the loan, you have to make sure that the refund limit in your Tax Account is sufficiently high, otherwise you risk having your repayment returned from your Tax Account to your business NemKonto as excess payment. In order to keep the payment in your Tax Account, you can log on to E-tax for businesses and change the refund limit in your Tax Account. You should do this before you make the payment. 

However, 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, will have DKK 500 paid out. If the refund limit is DKK 200,190, the remaining DKK 190 will not be paid out as amounts of less than DKK 200 are not paid out from the Tax Account. 

Read more about the Tax Account.

The repayment may cover unpaid claims first

Even if you make a payment to cover your claim, you have to know that it may be used to cover other unpaid claims before it covers your loan:In order to have the loan paid into your business NemKonto, a number of things may be set off against the loan before it is transferred to your account: 

  • If your business has unpaid claims (such as unpaid VAT or A-tax and labour market contributions) in your Tax Account, the loan will first be used to cover such claims. 
  • If a claim is underway (for instance in relation to an extended declaration deadline), the claim has to appear from your Tax Account and will then be set off against the loan. 
  • If your business owes money to other public authorities and such debt has been submitted for collection, this debt will also be set off against the loan. 

Any remaining amount will be paid into your business NemKonto. 

Read more about the Tax Account. 

Call us on ( 45) 72 22 12 39 if you would like further information.

We are ready to take your call on Mondays 9-17, Tuesdays-Thursdays 9-16 and Fridays 9-14.