On Mar. 20, DEN GA issued NOR Tax agreement on simplifcation.
DEN GA issued NOR Tax agreement to ensure simpler rules for lotteries and banking.
Overview of Agreement
DEN GVT and all parties in the Folketing have entered into an agreement that will give associations in Denmark the best framework for ensuring strong communities.
Banko is a good Danish tradition, which provides the opportunity to create important communities and raise funds for good causes, says DEN TAX Minister, Jeppe Bruus.
Agreement means introduction of de minimis limit, with sales price below DKK 15,000.
DEN GA have also set sales limits outlining proceeds that will go to charitable causes.
To supplement the agreement, DEN GA provides nine factsheets with key definitions.
Includes Factsheet 8Example of banking association (non-profit lottery), and Factsheet 9Example of banking association (banking in liberalized gambling market).
Effectiveness
The rules are not yet effective, but expected to enter into force on Jan. 1 2025.
