The reporting basis must be stored for five years according to the rules in section 56(1) of SIL.
This includes reporting files and all other accounting material that forms the basis of the reporting, including information to be used to determine whether specific information must be reported.
The information must be stored according to the rules set out in the Danish Bookkeeping Act (Bogføringsloven) on the storage of accounting records.
According to section 4 of the Danish Bookkeeping Act (Act nr. 700 of 24 May 2022), the following are regarded as accounting records:
- Registrations, including the transaction trail.
- Descriptions of the company's accounting procedures according to section 6.
- Annexes.
- Other information necessary for the control trail.
- Documentation of information in the notes and management report in the annual report and of estimates and assessments made in connection with the preparation of the company's annual report.
- Accounts, statements and presentations required to be prepared in accordance with legislation and voluntarily prepared accounts submitted under the Danish Financial Statements Act, which are not used exclusively for the company's own use.
- Any audit reports or other equivalent reporting.
The new Bookkeeping Act ((Act nr. 700 of 24 May 2022) entered into force on 1 July 2022. Previously, the definition of accounting material apperared in section 3 af the Danish Bookkeping Act (LBK nr. 648 af 15 June 2006).
The records must be kept in such a way that the Tax Agency is able to check and search for the information.
We expect that annexes are structured systematically and are stored electronically to facilitate the processing of information and data.
Read more about handling of data in section 1.9. Responsibility of the party subject to a reporting obligation