Further details of loan repayments on abolition of export VAT scheme

As previously reported, interest free loans under the special Danish export VAT scheme will be abolished from 1 January 2018 and existing loans must be repaid in full by 15 January 2018. The tax authorities have now provided an update on how the repayment of the loans is to be practically handled: Businesses affected will receive a letter from the tax authorities, which will be sent to their electronic mailbox ('e-Boks') with further information on the repayment process. The authorities will simultaneously raise a claim/debt in the business' online tax account equal to the value of the interest free loan, with the usual 14 day repayment period granted (applicable from the date of the claim).