Navigation path


Generic Tax Name Stamp duty - Stamp duty for insurances
Tax name in the national language Stempelafgift
Tax name in English Stamp duty (for insurances)
Member State DK-Denmark
Tax in force since 1969/04/30
If abolished, date on which the tax ceases to apply 2012/12/31
Business version date 2013/01/01
Version date 2013/01/02
This file was last updated on

Type of tax
Direct taxes Personal income tax
Corporate income tax
Other

Indirect taxes VAT
Excise duty (EU harmonised)
Alcoholic beverages
Energy products and electricity
Manufactured tobacco
Other

Social security contribution Employers
Employees
Other
 
Legal base

Statutory Notice No. 1209 of 28 November 2006 concerning stamp duties on non-life insurance documents.

This stamp duty was from 1. january 2013 replaced by Statutory Notice No. 551 of 18. June 2012 regarding tax on Non-life insurance.

 
Who sets
The tax rate is set by




The tax base is set by




The reliefs are set by




Comments
 
Beneficiary





Comments

 
Geographical Scope

 
Taxpayers

The parties to the contract of insurance as contained in the document that is subject to stamp duty.

The foreign insurer's fiscal representative in Denmark.

 
Tax object and basis of assessment
  • Non - life insurance documents, which are issued in Denmark
  • Non - life insurance documents that involve risks placed in Denmark
  • Non - life insurance documents where the parties are resident in Denmark, the document is signed in Denmark and the premium is to be either wholly or partly paid in Denmark.

 

The assessment is based on the type of insurance, the insurance premium or the insured sum.

 
Deductions, Allowances, Credits, Exemptions

Exemptions:

  • Insurance policies issued by mutual insurance companies that are not under supervision.
  • Insurance policies issued as a result of the Act on protection against the consequences of industrial injuries.
  • Marine insurance and transport insurance as well as Air Transport insurance.
  • Creditor's insurance and Guarantor's insurance.
  • Documents, regarding the assignment of a claim for damages to the insurer that has covered the loss.
  • Other insurance policies, which have an insured, sum not exceeding 12,000.00 DKK.
  • Documents made as a result of reorganisation from an insurance association to a public limited company.
  • New insurance policies issued to the continuing insurance company as a result of an insurance company's fusion, fission, reorganisation or transfer of assets. The new policies must contain the same terms and conditions as the policies they replace.
 
Rate(s) Structure
  • Either 0.29 DKK per 5,000.00 DKK (0.0058 %) of the insured sum or part thereof, or alternatively 14 % of the insurance premium.
  • Not more than 8.00 DKK for compulsory public liability insurance as required by the Danish Road Traffic Act.
  • 5.00 DKK for contracts regarding specific risks plus 0.29 DKK pr. 5,000.00 DKK of the insured sum or part thereof. Alternatively, 14 % of the insurance premium.
  • 50.00 DKK for reinsurance.
 
Tax due date

 
Tax collector

The stamp duty must be paid no later than four weeks after the signing of the document. This time limit is extended to eight weeks if the document is signed outside Denmark

The duty is collected by the purchase of ordinary excise stamps, special excise stamps or stamped paper from the registration office or the Regional Customs and Tax Administration.

Danish insurance companies and foreign insurance companies with an authorized fiscal representative can pay the stamp duty on monthly declaration during the month following that in which the duty became payable or an amount equivalent to 1/12 of an amount estimated for the current accounting year.

 
Special features

 
Economic function







Comments

 
Environmental taxes



Comments
 
Tax revenue
ESA95 code d214ba

Comments

revenue appears jointly with Registration tax