Denmark Tax Ministry Announces Adjusted Amount Limits Under Individual Tax Act 2024-2025

The Danish Ministry of Taxation Jan. 6 announced adjusted amount limits under the Individual Income Tax Act, 2024-2025. The limits include: 1) an increase in the top tax limit after AM contributions to 611,800 Danish krone (US$83,962) from 588,900 krone (US$80,819); 2) an increase in the personal allowance to 51,600 krone (US$7,081) from 49,700 krone (US$6,820); 3) an increase in the maximum employment deduction to 55,600 krone (US$7,630) from 45,100 krone (US$6,189); 4) an increase in the maximum property tax deduction for profits from property sales to 351,900 krone (US$48,292) from 338,800 krone (US$46,498); and 5) an increase in the ...