Contents

►This section describes what pension providers mentioned in Section 1(2), Items 1, 2, 7 and 8 of PAL must include in the basis of taxation. ◄

 

Rule

►The pension funds mentioned in Section 1(2), Items 1, 2, 7 and 8 of PAL must include all types of asset yields in the basis of taxation.◄

 

►When determining the basis of taxation, pension funds etc. can deduct the following:◄

►1)  Individual provisions for interest etc. made to cover commitments towards pension plan holders covered by Section 1(1) of PAL and which are liable to taxation under Section 4 of PAL ◄

►2)  Individual provisions for interest etc. made for pension plan holders whose pension plans are covered by Sections 53 A and 53 B of PBL ◄

►3)  Amounts for policies which are not covered by PBL and which can only be disbursed in the event of the policyholder's illness, disablement or death prior to the agreed time of expiry of the policy provided that the agreed time of expiry is not later than the first policy day after the policyholder having reached the age of 80◄

►4)  Amounts for insurance and pension agreements with municipalities concerning the municipalities' pension obligations vis-à-vis municipal officials ◄

►5)  Amounts for child savings plans covered by Section 51 of PBL◄

►6)  Amounts for annuities without bonus entitlement taken out before 1 May 1982◄

►7)  Direct disbursements of asset yields for the year of taxation to the pension plan holders set out in Items 1-6 ◄

►8)  Provisions made for pension plans covered by Section 15 D of PBL◄

►9)      Provisions made for pension plans covered by Section 53 of PBL◄

►10)  Provisions made for pension plans taken out with the company's branch in a country other than Denmark or on the Faroe Islands or in Greenland. It is a condition that the pension plan holder ◄

  • ►is not tax liable under Section 1 of the Danish Withholding Tax Act (Kildeskatteloven (KSL)) or ◄
  • ►is tax liable under Section 1 of KSL, but which, under the provisions set out in a double taxation treaty, is domiciled in a country other than Denmark or is domiciled on the Faroe Islands or in Greenland. ◄

►See also◄

 

►The basis of taxation must be determined under Sections 13-16 of PAL, cf. Section 12 of PAL. See section C.2 Determining the basis of taxation for plans with banks and credit  ◄

►institutions as well as pension providers liable to taxation and section C.3 Special provisions for determining the basis of taxation.◄

►Sections 4, 5, 7 and 8 of KGL are applied in the same way. See section B.5.1 Basis of taxation for pension providers mentioned in Section 1(2), Items 3-6 and 9 of PAL.◄