Individual - Sample personal income tax calculation

Last reviewed - 21 February 2022

The 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 2022 (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 (41,600)  
Job allowance (2,700)
Non-interest related deductions   (54,500)
Taxable income   462,455
Local tax 115,475  
Base tax 72,232  
Top tax 6,668  
Tax value of personal allowance and interest compensation (21,275)
Property value tax 9,200  
Total tax   182,300
Labour market tax (AM-tax)   51,909
Total taxes inclusive of labour market tax (AM-tax)   234,209