Ending of VAT liabilities deferral
Denmark is the latest European country to start the withdrawal of coronavirus-related Value Added Tax support measures.
The repayment period for VAT liabilities due by 1 November 2021 or 1 February 2022 has now been moved to 1 April 2022. However, the government has warned that this will be the final extension based on the progress made with the vaccination program.
The VAT liability under the scheme may be spread out over 24 months – as opposed to the original twelve months. However, this will still attract an interest charge of 07% per month.
