Today’s news / Tax cuts imminent

Tax cuts imminent

The SVM government will reduce personal taxes for a total of DKK 6.75 billion towards 2030 in the tax proposal that will soon be presented, according to Børsen. The amount is 1.75 billion more than agreed in the government manifesto, which was intended to reduce taxes by DKK 5 billion. However, headspace has led the government to announce that major tax cuts were on the way. Børsen writes that the proposal will be presented this week. The employment allowance is to be raised and is where most of the money is to be spent. According to Børsen, the government is spending a total of DKK 4.8 billion on increasing the employment allowance DKK 800 million more than planned.
      In addition, a new intermediate tax is to be introduced, the top tax threshold is to be higher, and a toptop tax is to be introduced, Børsen writes about the proposal and reports that the tax plan was to have been presented last week. Due, however, to Jakob Ellemann-Jensen’s exit from Danish politics, announcement was delayed. DKK 500 million will also be allocated for as yet unspecified tax cuts. /ritzau/