Er virksomhedsordningen død? En komparativ analyse af alternative skatteberegninger

Camilla Hjorth Rosenkrands & Andreas Glenvig

Student thesis: Master thesis


The Danish Parliament adopted on 9 September 2014 a series of austerity measures in the corporate tax code, which are aimed at the areas that are deemed unintended application of the VSO. It is stated in the bill that the procedure should ensure that in future it should not be possible to use low-taxed funds in the VSO for the financing of private consumption as well as settlement of private debt. This thesis aims to elucidate the impact of this tightening in legislation, including to answer whether the VSO is dead. Furthermore this thesis describes the tax forms for a self-employed; PSL, VSO before modifying the law, KAO and capital companies. In addition the bill and the associated implications for self-employed persons will be analyzed. In this context, interviews with 3 experts in the field will be included, whom all utter agreement that VSO has been used inadvertently. The amendment has, however, been too far-reaching. In order to answer the question about whether VSO is dead, tax calculations will be incorporated, which conclude in a comparative analysis of the 4 forms of taxation – PSL, VSO, KAO and capital companies. Tax calculations are made on the basis of a fictitious case company, and analysis will show, what tax form that is most beneficial and gives the lowest tax payment. The case-company is a lawyer with a few employ-ees, where the partner forms the load bearing part. The comparative analysis shows that the VSO with savings and private debt has been the most advanta-geous solution so far, since this gives the lowest tax payment and the lowest effective tax rate. This solu-tion, however, is no longer quite as optimal if the self-employed, as a result of deposits of private debt, has a negative deposit account. This is because it is no longer possible to save up in the VSO with a negative deposit account. The analysis shows that the VSO with optimization (though without private debt) provides a lower tax payments compared to the other forms of taxation. Entrepreneurs, whom so far have not deposited private debt in VSO, will not feel the impact of the amendment to the same extent as entrepreneurs with deposits of private debt and a negative deposit account as a result.

EducationsMSc in Auditing, (Graduate Programme) Final Thesis
Publication date2015
Number of pages125