Weekly economics overview
The energy company Energi+ has received fines of over one million DKK for contacting clients on the phone without their consent and for misleading them into contracts. They made illegal sales calls to 83 people without consent and misled 73 of them into contracts. This is one of the 25 cases reported to the police by the Consumer Ombudsman.
- If you get contacted by an electricity company without requesting it, just hang up immediately. Do not buy anything over the phone. Do not say the word “Yes/Ja” in any context, as they can use it as an audio file to prove the sale.
One-third of electricity offers are misleading: The Consumer Ombudsman warns against entering into an electricity contract with 21 out of the 55 electricity companies on the market. You can see the list of companies to avoid here.
Record exports (251 billion DKK) from Denmark to the USA in the first nine months of the year. An increase of 44 billion DKK was recorded compared to the same period last year. This helps shed light on the magnitude of the negative impact trade tariffs introduced by the USA can have on our economy. The proposed customs tariffs are to be set at 10%, which will wipe out the profit margin for many companies that export to the USA.
US stocks should be taken with a grain of salt and moderation. Investment guru Warren Buffet has historically sold most of his shares in times when the share value of many US companies was going up and up. The last time he did it was before the financial crisis in 2008. His company, Berkshire Hathaway, has amassed an incredible amount of cash (325 billion dollars) and is most likely preparing for an overheating of the stock market, which will send the share value downwards to a level where he will be able to buy many companies on the cheap.
Almost zero unemployment among tax specialists. If you like numbers, compliance, and control and are looking for a change in career towards a more stable job, you should consider taking a professional bachelor in taxation. There is a guaranteed job for you at graduation.
34,900 adults aged 30 to 44 years old still live with their parents. That corresponds to 3.2% of the entire population in that age group. It’s mainly men, people with low incomes, and descendants of non-Western backgrounds. Compared to a decade ago, the percentage has increased from 2.3% to 3.2%.
From 2030, companies will no longer be allowed to use the title “Royal Court Supplier.” The Royal House decided that it no longer fits the times to give preferential treatment to some companies over others. There are currently 104 Danish companies and five international ones that use that title.
- Companies that use the crown in their logo will have to send an application to the National Archives to prove that there is a historical connection to be able to keep it after 2030. Some companies have had the title for more than a hundred years.
You can now check the preliminary property assessment, which will be used to determine your property taxes for 2025 and 2026.
Focus
More money in your pocket from 2025 as tax deductions increase. The employment deduction (fradrag) will increase from 10.65% to 12.3%. From 45,100 DKK to 55,600 DKK maximum per year. You can check your preliminary tax statement for 2025 here.
Besides the employment deduction, there are other tax deductions to consider:
- Transport deduction if you drive more than 12 kilometers between your home and your workplace. You can deduct 2.23 DKK per kilometer between 24 and 100 kilometers per day and 1.12 DKK per kilometer over 100 kilometers per day. For 2025, the exact numbers might change. Also, if you live in an “yderkommuner” or a small island, there are special rules for you.
- Services deduction for cleaning, gardening, childcare, to name a few. You can get up to 12,400 DKK per person living in the house. There might be another deduction introduced from 2025 related to house improvements. We will know for sure in December.
- “Rate pension” (Installment pension) deduction of up to 65,500 DKK per year.
- Expenses connected with obtaining a mortgage (bank fees, the guarantee commission) can be deducted. Also, if you bought a house, remember to register the day when you move in so that you start paying property taxes only from that moment. Automatically, it is registered on the day of acquisition.
- Report losses on shares as you get a tax deduction for them.
- You can deduct donations to charities of up to 19,000 DKK. Donations for research do not have an upper limit, so you can deduct everything you donated. The recipient of the donation needs to report it for you to be able to get the deduction.
- If you travel for work for more than 24 hours (too far away to return home at night), you can get a fixed-rate deduction for accommodation. However, your expenses should not be covered by the employer and there should not be a tax-free allowance from the employer.
- Interest expenses on loans (including private loans) can also be deducted.
