Introduction

Guide to online forms 07.082 EN and 07.082 K EN - Determination of banks, credit institutes and capital pension funds under section 22 of the Danish Pension Investment Return Tax Act (PAL).

This guide is aimed at banks, credit institutds and capital pension funds determining taxable returns in accordance with the rules in sections 3 and 5 of PAL for the taxable pension schemes mentioned in section 1(1) of PAL.

Banks, credit institutes and capital pension funds declare the final tax base, the taxable part thereof as well as the final tax for each of the savings methods mentioned in section 22 of PAL via E-tax for businesses (the Danish Tax Agency's self-service facility for businesses - TastSelv Erhverv) or on online form 07.082 EN.

Ordinary declaration on online form 07.082 EN comprises all pension savings accounts liable to PAL taxation which are effective at the end of the income year.

This guide also contains information on how to correct declarations on online form 07.082 K EN - Pension schemes taken out with banks etc. - correction for determination under section 22 of PAL.

Correction may be made once per quarter up to and including 1 February, 1 May, 1 August and 1 November.

Tax liability, statutory basis and legal guide

The tax liability under section 1(1) of PAL rests with holders of the following types of pension savings accounts:

    • Pension savings accounts under sections 12, 12 A and 13 of the Danish Pension Tax Act (PBL) as well as pension accounts under section 42 of PBL, see section 1(1), paras (1) and (2) of PAL
    • Annuity savings accounts under sections 11 A, 15 A and 15 B of PBL, see section 11 A of PBL
    • Personal pension accounts under section 51 of PBL and similar tax-privileged personal pension accounts established before 2 June 1998
    • Index-linked accounts under section 15 of PBL. The determination under section 22 of PAL must comprise the asset returns etc. which can be attributed to the period from 1 January up to and including 31 December in the income year, see sections 11 and 36 of PAL.

Further information about the rules in PAL is available in section CG of the Danish Tax Agency's legal guide Den juridiske vejledning. You can see the guide at www.skat.dk/juridiskvejledning. Please note that the guide is only available in Danish.

References to acts on online forms, paper forms and in this guide concern:

    • Danish Pension Investment Return Tax Act (Pensionsafkastbeskatningsloven (PAL)), see Consolidation Act no. 1126 of 10 October 2014, as amended.
    • Danish Pension Tax Act (Pensionsbeskatningsloven (PBL)), see Consolidation Act no. 586 of 24 May 2013, as amended.
    • Danish Executive Order no. 1138 of 22 October 2014 on Certain Rules in the Danish Pension Investment Return Tax Act (Bekendtgørelse om visse regler i pensionsafkastbeskatningsloven).

E-tax for businesses

The declaration on forms 07.082 EN and 07.082 K EN takes place in E-tax for businesses (TastSelv Erhverv). In E-tax for businesses, the online form can be found in the bar at the top of the screen under 'Øvrige indberetninger' (Other declarations). Click 'Pension' on the far left of the screen, select 'Pensionsafkast (PAL)' (Pension investment returns (PAL)) and then select either 'Indberet/Report' (Declare/Report) or 'Korrektion' (Correction).

When the declaration/correction is completed and accepted in E-tax (TastSelv), an OCR line will automatically be created on the receipt. The OCR line must be used for payment if the declaration/correction results in outstanding PAL tax.

If the declaration/correction results in disbursable PAL tax, no further action is needed once the declaration/correction has been accepted. The Danish Tax Agency will disburse the overpaid PAL tax including interest.

Please note that the determination under section 22 of PAL constitutes the sum of the tax base, tax etc. of the savings methods mentioned. The individual pension savings account must be determined correspondingly.

The sum amounts may only be rounded off to whole Danish kroner (DKK) when the online form is being completed, and no prefixes may be entered in amount fields where prefixes are already printed.

If, in very exceptional cases, a manual declaration is submitted, it must be sent to BetRegn_SAP38Hta@sktst.dk or to:

Skattestyrelsen
Nykøbingvej 76
Bygning 45
4990 Sakskøbing
Denmark

Payment details

The calculated tax must be transferred via OCR line to account no.: 0216 4069064507. For foreign schemes, the tax must be transferred via IBAN: DK1402164069064507 and BIC/SWIFT code: DABADKKK.

The declaration and the tax payment must be received by the Danish Tax Agency no later than on 22 January of the year following the income year, see, however, section 26 of PAL.

If the above-mentioned deadline, i.e. 22 January of the year following the income year at the latest, is exceeded, default interest will be added under section 28 of PAL from this date and until payment is made.

Correction declarations

In E-tax for businesses, the online form can be found under the menu item 'Pensionsafkast (PAL)' (Pension investment returns (PAL)) by selecting 'Korrektion' (Correction).

Correction may be made once per quarter up to and including 1 February, 1 May, 1 August and 1 November. This means that E-tax for businesses is open for declaration in the following periods: 1 January up to and including 1 February, 1 April up to and including 1 May, 1 June up to and including 1 August and 1 October up to and including 1 November.

If, in exceptional cases, a declaration is made on a paper form, the form must be received by the Danish Tax Agency no later than on the above dates. As an exception, a deviation from these deadlines may be granted in very special cases. Please contact the Danish Tax Agency in cases where it is believed that such a special situation exists.

When the correction declaration is accepted in E-tax for businesses, an OCR line will automatically be created on the receipt. The OCR line must be used for payment if the correction results in outstanding PAL tax. Interest must be calculated up to and including the date before the date of payment.

If the correction results in disbursable PAL tax, no further action is needed once the declaration has been accepted. The Danish Tax Agency will disburse the overpaid PAL tax including interest.

The rules on correction can be found in section 9 of Danish Executive Order no. 1138 of 22 October 2014 on Certain Rules in the Danish Pension Investment Return Tax Act.

Auditor's statement

The bank's, credit institute's and capital pension fund's auditor must submit a signed statement indicating that the final determination under section 22 of PAL has been audited in accordance with the rules in part 10 of Danish Executive Order no. 1138 of 22 October 2014. The statement must be prepared in accordance with Danish Executive Order no. 385 of 17 April 2013 of the Danish Business Authority (Danish Executive Order on Statements Made by State-Authorised and Registered Public Accountants (Erklæringsbekendtgørelsen)). Reservations and/or supplementary information must appear from the auditor's statement. Any periodical statements may be endorsed by the internal auditor, if any. The auditor's statement must be submitted to the Danish Tax Agency no later than on 1 May of the year following the income year, see section 28 of Danish Executive Order no. 1138 of 22 October 2014.

Please call the Danish Tax Agency on (+45) 72 22 18 18 for questions concerning entries in the online form or the determination of the tax base, including the calculation of the final tax on returns from pension scheme assets.