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Denmark
Individual - Sample personal income tax calculation
Last reviewed - 14 December 2023The following tax calculation relates to an individual who owns 100% of a property in Denmark with a public Danish cash value of DKK 1,000,000, has an average municipality tax rate, no church tax, and is covered by Danish social security.
Income tax calculation for 2023 (single taxpayer)
| Tax computation | DKK | DKK |
| Salary | 600,000 | |
| Value of free car | 50,000 | |
| ATP (social security) | (1,136) | |
| Labour market tax | (51,909) | |
| Personal income | 596,955 | |
| Interest income | 20,000 | |
| Interest expenses | (100,000) | |
| Capital income | (80,000) | |
| Transportation expenses | (10,200) | |
| Employment deduction | (45,600) | |
| Job allowance | (2,700) | |
| Non-interest related deductions | (58,500) | |
| Taxable income | 458,455 | |
| Local tax | 114,651 | |
| Base tax | 72,171 | |
| Top tax | 4,208 | |
| Tax value of personal allowance (standard deduction) and interest compensation (Danish law PSL § 11) | (21,807) | |
| Property value tax | 9,200 | |
| Total tax | 178,423 | |
| Labour market tax (AM-tax) | 51,909 | |
| Total taxes inclusive of labour market tax (AM-tax) | 230,332 |
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