Tagged: Danish Regulation

7 Nov 2019Taxation / VATUpdates

Guidance Signal Excluding Certain Alternative Investment Funds from VAT Exemption on Management Fees is Adopted by the Danish Tax Agency

On 7 November 2019 the Danish Tax Agency presented its guidance signal concerning the rules on VAT exemption for management fees for management of investment undertakings.

Danish RegulationManagement Remuneration
24 Sep 2019Financial RegulationUpdates

Proposal to Increase Certain Requirements for Managers under the AIFM and AML Act Published for Consultation

On 28 August 2019 the Danish FSA (in Danish: Finanstilsynet) published for consultation a draft proposal to change, among others, the Danish AIFM Act and the Danish AML Act.

ComplianceDanish RegulationKYC / AMLWhistleblowing
2 Jul 2019Other Compliance Requirements

Japan Deemed a Sector Specific, Safe Third Country by the Danish DPA

Transfer of personal data from Denmark to (private) organisations in Japan that are subject to the APPI will not require prior approval from the DPA.

ComplianceDanish RegulationGDPR
11 Jun 2019Other Compliance Requirements

Danish Company Faces Prosecution and a Fine of DKK 1.5 mill. for GDPR Violation

On 11 June 2019, the Danish Data Protection Agency ("DPA") has reported a Danish furniture company to the Danish police for not deleting information on approx. 385,000 customers.

ComplianceDanish RegulationGDPR
2 May 2019Corporate RegulationFinancial Regulation

Danish Parliament Strengthens Registration Requirements of Ultimate Beneficial Owners

On 2 May 2019, the Danish Parliament adopted amendments to the Danish Companies Act, which implements part of the 5th EU Anti-Money Laundering Directive.

Beneficial OwnershipComplianceDanish RegulationDisclosure RequirementsKYC / AML
25 Mar 2019Other Compliance Requirements

Fine of DKK 1.2. mio. Recommeded for Taxi Company’s Storage of Costumer Phone Numbers

On 25 March 2019, the Danish Data Protection Agency submitted a notice to the Danish police regarding a Danish taxi company’s violation of GDPR for storage of customer phone numbers.

ComplianceDanish RegulationGDPR
13 Mar 2019Corporate RegulationFinancial Regulation

Proposal to Strengthen the Registration of Ultimate Beneficial Owners

On 13 March 2019, the Danish Government presented a proposal for an amendment of various acts including the Danish Companies Act which implements part of the 5th EU Anti-Money Laundering Directive concerning the registration of ultimate beneficial owners.

Beneficial OwnershipComplianceDanish RegulationDisclosure RequirementsKYC / AML
8 Mar 2019Taxation / VAT

Guidance Signal Excludes Certain Alternative Investment Funds From VAT Exemption on Management Fees

On 8 March 2019, the Danish Tax Agency published a draft guidance signal for public hearing. If implemented, the guidance signal will exclude certain alternative investment funds from VAT exemption on management fees.

Danish RegulationManagement Remuneration
27 Feb 2019Financial Regulation

New Proposal to Implement Authority to Enforce the PRIIPS-Regulation Into Danish Law

On 27 February 2019, the Danish Government presented a proposal for an amendment of the Danish AIFM Act giving the Danish Financial Supervisory Authority competence to enforce the PRIIPs regulation.

ComplianceDanish RegulationDisclosure RequirementsKID / PRIIPSWhistleblowing
26 Feb 2019Taxation / VAT

EU Court of Justice Issues Ruling in Danish Beneficial Ownership Cases

The CJEU judgments will likely have a big impact on international group structures and will also contribute to the interpretation of the anti-abuse principles of EU law and the "beneficial owner" concept.

Beneficial OwnershipDanish Regulation

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