Denmark Plans Tax Cuts for Entrepreneurs, Drops ‘Phantom’ Tax

The Danish government presents a plan to significantly lower taxes for entrepreneurs, in a move to bolster the startup scene in the Nordic country, particularly in the biotech industry.

• The tax plan will cost DKK2.1 billion from 2024-2026 and another DKK1.1 billion a year from 2027 and onwards, the economy ministry says
• The initiative gets rid of the so-called “phantom” tax where a shareholder or founder gets taxed on expected future earnings when a company is sold
• The plan aims to make it easier for startups to attract capital, by scrapping a tax on dividends from unlisted companies

To contact ...