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Mar 9, 2020

Taxes In Denmark For Students: What Do You Need To Know?

Michael Mares
Denmark is a welfare state, where taxes are calculated automatically. What happens when you don’t set the correct income? Will you get a penalty? We asked Daniel, a tax expert from Youtax.dk.

e meet up with Daniel from YourTax, a tax expert in Denmark, to tell us how to end the year with the 'green numbers'.

Together, we've created the first-ever tax series, crafted specifically for internationals in Denmark.

We talk about what you have to do and check, so you will not get any penalties from tax authorities on your annual tax return in March.

Now is the opportunity to fix things in the e-tax system. ⚖️

What happens when you don’t set the correct income? Will you get a penalty?

Tax authorities around March/April, release a statement to show you whether you have overpaid or underpaid taxes.

There are different ways to do it. Up to a certain amount, it will be calculated into your preliminary income assessment.

Which numbers do you need to be aware of when updating the preliminary income?

It depends on where you get your income. If all your income comes from companies in Denmark, they have to report it to the tax system, but if you have income from abroad, you need to report this manually.

Another thing to check is to check the preliminary income and see what you expected to earn in a year and what the companies actually reported you earned. So you can have a comparison in the system that you can see them.

We also have deductions that you can report and you can include in the system.💰

What are those deductions?

We will talk about all different deduction and much more about taxes in our series that is airing from February until the end of March (tax report days) for internationals to see and understand what they need to know and what to be aware of, including the deductions.How to handle the taxes and what are the basics to understand?

Subscribe to our channel so you will not miss the series, when it comes out.

How does paycheque look like in Denmark?

How should my salary statement look like and where can I find my pay slips? What are the amounts that we are paying from our salaries and how can we find them on our payslips? These are the questions we asked. Watch the video to find answers:

Tax returns

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Michael Mares
I've been in Denmark for the last 4 years and because of all my f*ck ups, I've decided to start the Student Survival Guide. It was a way for me to give something back and teach others something that no one told me. Other than writing, I enjoy video editing, playing music and watching Family Guy. I'm a simple guy
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Student Survival Guide is a non-profit project, started by university students in Denmark. We want to help other students, who struggle with things we've already been through and gained knowledge about. If you want to support us, consider following our Facebook page or YouTube channel. Leave a comment or like, so we can see that our work is paying off.
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