Kapitalejerlån: Fra et skatteretligt perspektiv

Kristina Luise Nilsson & Maibritt Nygaard Jensen

Student thesis: Master thesis


During the financial crisis that started in Denmark in 2007/08, there has been a growing number of shareholder loans in the Financial Statements of Danish Companies, mostly in order to fund private spending as it has been difficult to obtain loans from the banks in this period. As a consequence of the increased shareholder loans, and to limit the numbers of new loans, the Danish Government, Venstre and Det Konservative Folkeparti presented a new paragraph to The Danish Tax Assessment Act, so that loans granted from August 14th 2012 and going forward, was illegalized from both a fiscal point of view, as well as in relation to company law. The existing regulation against shareholder loans in the Danish Companies Act has not complied with in an appropriate manner, which led to an increase of shareholder loans as it was without consequences for the shareholders. This thesis will look into the consequences of the new conditions of the law, including the consequences for the involved parties. The Danish Tax Act and the Danish Companies Act have misalignments to this point, and we will try to clarify the issues related to this problem. The Tax Assessment Act, Section 16 E contains information of which loans will be considered as illegal including whom they may concern with respect to The Tax Assessment Act, Section 2. If the Tax Assessment Act, Section 16 E is not observed correctly, it will imply different consequences for the involved parties. The companies are responsible for reporting, withholding and paying the withholding tax to The Danish Tax Authorities to avoid a breach of the law and further fining in this matter. The shareholder is then responsible for repaying the loan to the company including payment of the tax paid to the Authorities. If the shareholder does not pay the tax, the company will be obliged to do so, and this will be treated as a new illegal and non-taxed shareholder loan. The primary consequence of the changes with Tax Assessment Act, Section 16 E is that withdrawals from the company’s accounts to the shareholder will be taxed either as payment or dividends of shares. This taxation must be carried out at the same time as the withdrawing, or the company and the responsible shareholder will be held liable.

EducationsMSc in Auditing, (Graduate Programme) Final Thesis
Publication date2014
Number of pages141