Denmark Tax Agency Clarifies Deferral of Taxable Gains on Commercial Property Sales

The Danish Customs and Tax Administration April 24 posted online National Tax Court Decision No. SKM2026.199.LSR, clarifying deferral of taxable gains on commercial property sales. The taxpayer, 100 percent owner of a plumbing company, sold the real property rented to the company for a gain, and reinvested the proceeds in a commercial plot. The company leased from the new owner until the new location was constructed. The Tax Agency denied deferral of the taxable gain. On appeal, the National Tax Court found that: 1) the Property Gains Tax Act doesn’t require immediate commercial use of acquired property, or use by ...