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According to the Danish Annual Report Act, most Danish companies must submit annual reports. This law is constantly changing and there are ongoing requirements for the format of the Annual reports. At Summ, we prepare Annual reports for a wide range of customers who trust that their Annual reports are submitted on time, are accurate, and comply with applicable laws. We are aware that Annual reports are publicly available material and we understand that quality is a key word so that the company can appear professional.
In addition to the Annual report, companies must also submit a corporate tax return annually. As a natural part of the year-end task, we also prepare the company's tax return, ensuring that the company's tax is correctly calculated according to current legislation. In this context, we also ensure that the company benefits from any deductions that may be available.
Basically, every company has to report their Annual report to Erhvervsstyrelsen.
Some companies might differ on this since they are sending an excpetion statement following The Annual Report Act §4-6, but they still need to report this to VIRK.
After the conclusion of the financial year, companies are expected to submit their annual financial statements to the Danish Business Authority. The Danish Business Authority must receive the annual financial statements no later than 6 months after the end of the financial year. However, a shorter deadline of 4 months applies to publicly traded companies and state-owned joint-stock companies.For branches, the requirement is that branch managers submit the foreign company's annual report within 6 months after the conclusion of the foreign company's financial year.It is crucial to note that the timing of receipt by the Danish Business Authority is considered to determine whether the submission deadline has been met. A receipt for the submission is automatically sent via email.
If the deadline for submitting the annual report is exceeded, each member of the management can be subject to a personal fine of up to DKK 3,000. Further delays may even lead to the compulsory dissolution of the company. Therefore, it is crucial to adhere to the specified submission deadlines to avoid legal consequences.
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