Denmark Legal Update Q4 2020

MARK-TO-MARKET TAXATION ON REAL-ESTATE PROPERTY OWNED BY COMPANIES

As part of the funding of a new early-retirement pension scheme (in Denmark also referred to as the "Arne pension scheme"), the Danish government together with the Danish People's Party, the Socialist People's Party and the Red-Green Alliance agreed on 10 October to introduce mark-to-market taxation of property gains as from 2023. Read more about the new agreement and its significance below.

Published 15 October 2020

DEFENSIVE MEASURES UNDERWAY AGAINST EU BLACKLIST COUNTRIES

A new Bill on tax sanctions against EU blacklist countries was submitted for consultation on 12 November 2020. The Bill proposes both restrictions on deductibility for certain payments and stricter dividend taxation.

Published 24 November 2020

NEW LAW AUTHORISES DAWN RAIDS IN DUAL-USE AND EU SANCTIONS CASES

The Danish Parliament has passed a Bill allowing the Danish Business Authority access to conduct dawn raids without a court order in cases involving dual-use and EU sanctions. The new law will enter into force on 1 January 2021.

Published 3 December 2020

Read more about the law in our article from 13 November 2020.

EXPANDED SCOPE OF MERGER CONTROL IN GREENLAND

As of 1 January 2021, more mergers than before will be subject to the notification requirement in Greenland, a consequence of amendments to the Greenlandic Competition Act.

Published 16 December 2020

DRAFT BILL FOR NEW DANISH INVESTMENT SCREENING ACT SENT IN CONSULTATION

The consultation process for the forthcoming Danish Investment Screening Act has begun. The draft bill provides for a mandatory approval regime for foreign investments where the foreign investor acquires control of more than 10 % of a Danish company operating in certain sensitive sectors, combined with a voluntary filing regime across all sectors if a foreign investor acquires control of more than 25 % of a Danish company. The bill also grants the Danish Business Authority the authority to screen non-reported investments falling within the scope of the Act for up to five years after their completion.

Published 16 December 2020

THE DANISH GOVERNMENT’S LEGISLATIVE AGENDA 2020/2021 - EMPLOYMENT AND LABOUR LAW

On 6 October 2020, at the official opening of the Danish Parliament, the government announced what bills it planned to introduce in the coming parliamentary year. This article offers an overview of the particularly interesting bills as seen from an employment and labour law perspective.

Published 23 December 2020