Annual tax report – what are the rules?

Accounting and annual report – illustration of accounting and reporting for companies

💼 Annual report and SKAT – what are the rules?

Keeping track of your annual report and tax obligations is an important part of doing business in Denmark. But what should actually be included in an annual report? When should it be ready? And what does SKAT require?

Here you will get a quick overview of what you need to know as a business owner or accountant.

📌 What is an annual report?

An annual report is a comprehensive statement of a company's financial situation for the most recent financial year. It typically contains:

  • Income statement
  • BALANCE
  • Notes
  • Management statement and possibly auditor's statement

In other words, it is the company's financial "balance sheet" that shows how things have been going.

🕒 When should the annual report be completed?

The deadline depends on the type of business:

  • ApS and A/S: The annual report must be submitted no later than 5 months after the end of the financial year.
  • Sole proprietorships and I/S: Not required to file an annual report, but still must prepare accounts for tax purposes.

If the company has a calendar year as its financial year (January 1 – December 31), the annual report must be submitted no later than 31. May the following year.

💸 What needs to be sent to SKAT?

The company must report:

  • Taxable result
  • Any deductions and write-offs
  • VAT, payroll tax and A-tax (if applicable)

This data is typically sent via TastSelv Business or an accounting program. For companies, this happens automatically when the annual report is sent to the Danish Business Authority.

⚠️ What happens if you forget?

If you forget to submit the annual report, it may have consequences:

  • Fines from the Danish Business Authority
  • Forced dissolution of the company
  • Increased risk of inspection by SKAT

Therefore, make sure you have control over the deadlines – or get help from an accountant or bookkeeper.

🧠 Good advice for complying with the rules

  • Use an accounting program with automatic reporting (e.g. e-conomic, Dinero, Billy)
  • Set a reminder in your calendar
  • Consider help from an accountant or integration solution (e.g. via Make and Flows)
  • Integrate your financial systems for a better overview and fewer errors

🤖 Automate reporting with Flows

At flow We help companies automate time-consuming tasks – for example, by connecting your accounting system with SKAT, ERP and payroll systems.

➡️ Do you want to save time and avoid errors in reporting and reporting? Then an integration could be the way forward.

Book a free meeting and get advice on your solution.