POSTPONEMENT OF NEW ACCOUNTING LAW

The Accounting Act, which was passed by the Danish Parliament on May 24, 2022, has been postponed. The law was originally scheduled to come into effect on January 1, 2023, but due to the ongoing process of forming a new government, the commencement date has been postponed. We are currently waiting for the Danish Business Authority (Erhvervsstyrelsen) to announce a new date.

Back in late summer, the Danish Business Authority announced the timeline for the implementation of requirements for digital accounting systems. These rules were supposed to apply from January 1, 2023. However, on December 13, 2022, the Danish Business Authority announced that due to the ongoing government formation process, the timeline would be postponed. A new implementation timeline will only be announced once the new government is in place.

The announcement from the Danish Business Authority means that providers of digital accounting systems are currently not obligated to adjust their solutions to meet the requirements of the new accounting law. Additionally, the requirements for digital accounting systems may change. For businesses, this means that they cannot find a list of registered accounting systems on the Danish Business Authority’s website, as was originally planned. This list will only be announced after the formation of the new government.

We are awaiting the Danish Business Authority to announce a date for the implementation of requirements for digital accounting systems.

For more details, please refer to the Danish Business Authority’s website.

Update February 17, 2023:

In early February, the Danish Business Authority announced a new date for when providers of digital accounting systems should have their solutions ready in accordance with the new rules. This date is October 31, 2023. This means that providers of digital accounting systems can adjust their solutions until October 31, 2023, to comply with the requirements outlined in the decree issued on February 1, 2023. As a result, the solutions can be ready by January 1, 2024, when the Danish Business Authority will publish a list of registered solutions that comply with the requirements of the decree.

The exact dates for when obligated companies must digitize their accounting have not yet been announced.