The earnings tax and taxes associated to wealth paid by Danes account for 29.7 p.c of the nation’s GDP, based on Eurostat figures for 2017.
The proportion is kind of simply the very best within the EU, forward of Sweden (18.9), Belgium (16.9) and Finland (16.6).
Nevertheless, the disparity will be partly defined by the Danes paying the bottom proportion of web social contributions – some 0.9 p.c of GDP, in comparison with Sweden (3.3), whereas main the way in which have been France (18.8), Germany (16.7) and Belgium (16.1).
Third highest tax-to-GDP ratio in EU
Total, because of this Denmark, with 46.5 p.c, solely has the third highest tax-to-GDP ratio within the EU, behind France (48.4) and Belgium (47.3), however forward of Sweden (44.9), Finland (43.4), Austria (42.4), Italy (42.4) and Greece (41.8).
On the backside finish of the size, Eire (23.5), Romania (25.8), Bulgaria (29.5), Lithuania (29.8) and Latvia (31.4) had the bottom ratios.
The EU common in 2017 was 40.2 p.c – up from 39.9 p.c in 2016. Taxes on manufacturing and imports accounted for 13.6 p.c of GDP, adopted by web social contributions (13.3) and taxes on earnings and wealth (13.1).
SAS posts finest outcomes for years, however warns of attainable bother forward
SAS has declared an annual pre-tax revenue of round 2 million Swedish krona for its 2017-18 fiscal yr (ended October 31) – a wholesome outcome consistent with expectations that’s the Scandinavian airline’s finest for years. Nevertheless, SAS fears that greater gas prices, foreign money fluctuation and more durable competitors (from the likes of Norwegian and Ryanair) will make the subsequent 12 months a lot more durable, with a attainable onerous Brexit anticipated to hit the entire trade. The airline attributed its profitable fiscal yr to price reducing and restructuring efforts over the past decade.
Danske Financial institution fallout might have an effect on monetary safety, warns central financial institution
The nation’s central financial institution, Nationalbanken, has warned that the current money-laundering scandal involving Danske Financial institution might have an effect on the nation’s monetary safety. “It might result in a spillover impact to the remainder of the sector – that’s the concern,” Karsten Biltoft, the top of economic stability at Nationalbanken, informed Reuters. Nevertheless, Biltoft doesn’t suppose Danske Financial institution’s future is in jeopardy. One answer to regular the ship may very well be Denmark becoming a member of the European Banking Union. PM Lars Løkke Rasmussen has conceded that the Danske Financial institution episode has made this extra possible. A call shall be taken subsequent yr.
Pension fund chief govt resigns over previous deeds
ATP chief govt Christian Hyldahl has resigned following criticism of his enterprise practices at Nordea over a decade in the past, stating that he had misplaced the arrogance of the stakeholders in Denmark’s largest pension fund. His actions while in senior positions at two Nordea subsidiaries between 2005 and 2011 weren’t illegal, however have been by his personal admission to Finans “flawed”. With 120 billion euros’ price of belongings, ATP is Europe’s fourth largest pension fund.
Equipment rental firm offloads pursuits in Denmark
Finnish equipment and gear rental firm Ramirent is exiting the Danish market. It’s promoting its Danish subsidiary, Ramirent Denmark, to its rival GSV Materieludlejning for 33 million euros, and the sale is anticipated to undergo in January. Ramirent Denmark reported income of 41 million euros for 2017 – round 5 p.c of the Ramirent group’s whole turnover. GSV, which operates 16 places and loved an income of 113 million euros in 2017, is headquartered in Hedehusene, west of Copenhagen.
Copenhagen’s new container terminal shall be completed by begin of 2022
The brand new container terminal Copenhagen Malmö Port (CMP) shall be accomplished by the tip of 2021, it has been confirmed. “We’re making a serious funding. New expertise and trendy logistics options are paving the way in which for growth of land totalling 450,000 sqm,” Povl Ungar, one of many CMP executives, confirmed to maritimeprofessional.com. “Fashionable logistics options discuss with a digitalised facility that delivers higher and extra secure freight flows – in different phrases, extra automated flows with sooner, smoother dealing with all through the logistics chain.” The brand new terminal shall be 85,000 sqm in measurement and 12.5 metres deep – 2.5 metres deeper than as we speak.
Kindred indicators two-year deal to sponsor prime Danish eSports workforce
Kindred Group has signed a two-year sponsorship cope with Denmark’s most profitable eSports workforce Astralis, experiences igamingbusiness.com. As a part of the deal, Kindred shall be granted world picture rights and entry to unique content material created by the workforce, whereas its firm Unibet will grow to be the workforce’s official betting accomplice. In associated information, Kindred has acquired a web-based betting and gaming licence to arrange store in Sweden, as soon as the nation’s playing sector is deregulated in January.
Copenhagen Municipality behind with its invoices
Copenhagen Municipality has been known as out for its late cost of invoices, experiences Berlingske. The municipality apparently has 11,589 invoices which have nonetheless not been paid 30 working days after their receipt – a complete invoice of 287 million kroner. In keeping with the municipality’s personal guidelines, the invoices needs to be paid no later than 5 working days after their receipt.
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