The 2019 Finance Act has introduced a reduction in the tax on pleasure craft insurance. The rate will move down from 1.34% of the sum insured to 1% of the sum insured. The change applies to insurance policies where the insurance premium is due on 01 February 2019 or later. The tax on pleasure craft insurance only applies to insurance contracts covering Class 6 – Marine Hull for pleasure craft . The Danish government expects the measure to raise DKK 20 million for this year.
Tax Alert: Denmark – Tax on Pleasure Craft Insurance Reduced to 1%
Sovos
January 10, 2019
Sign up for Email Updates
Stay up to date with the latest tax and compliance updates that may impact your business.
Author
Sovos
Sovos was built to solve the complexities of the digital transformation of tax, with complete, connected offerings for tax determination, continuous transaction controls, tax reporting and more. Sovos customers include half the Fortune 500, as well as businesses of every size operating in more than 70 countries. The company’s SaaS products and proprietary Sovos S1 Platform integrate with a wide variety of business applications and government compliance processes. Sovos has employees throughout the Americas and Europe, and is owned by Hg and TA Associates.
Share This Post