Denmark

42TAX is a newly established tax and transfer pricing firm founded in 2022. The full-service suite covers indirect, corporate taxation and transfer pricing mandates for domestic clients and multinationals. Key practitioners include transfer pricing specialist Asger Kelstrup and corporate taxation specialist Carsten Dall Larsen.

Assorted highlights include successful MAP settlements with the Danish tax authorities resulting from multiple audits. Documentation was provided for a cross-border transaction in a separate energy mandate.

During the research period partners Kelstrup, Kasper Alvin Paulsen and Cecilie Emilie Rendtorff joined the firm. A further acquisition saw Larsen arrive in 2023.

Accura is active in M&A transactions, aligning with teams in the private equity and venture capital sectors. The real estate sector receives assistance in disputes with the tax authorities. Partner Poul Erik Lytken is co-head of tax with partner Mads Kjellerup Dambæk.

Recent activity entailed a merger between Semikron and Danfoss Silicon Power, generating combined revenues of DKK 4.5 to 5 billion. It also advised Visma IT consulting in a sale to CVC Partners.

Bjørnholm Law is specialised in numerous controversies before all levels of the Danish courts, as well as before the Danish tax tribunal. The firm’s two partners, Nikolaj Bjørnholm and Bodil Tolstrup, act in all dispute cases.

Recently, the firm provided business re-structuring advice pertaining to intangibles for a multinational. A double taxation MAP for an energy multinational is pending after an initial settlement.

Client feedback

“Bjørnholm Law is excellent at seeing new angles in dispute handling. Very diligent in their work and accessible. They are simply super to work with.”

CORIT Advisory has positioned itself as one of the foremost boutique tax firms in Denmark. It offers tax consulting services, with a particular focus on advising clients on international tax matters. Jakob Bundgaard is the managing director of the firm. He is supported by fellow taxation specialist Katja Dyppel Weber, who is also a partner at the firm.

The firm led two disputes against the Danish tax authorities regarding the EU concept of final losses and its domestic legal application. It also devised a new carbon capture taxation regime for a renewable energy client.

During the research period, practitioners Bjørn Sibbern, Erik Holst Jørgensen and Lars Nørgaard joined the firm. Annette Vinum arrived as an executive assistant.

Client feedback

“The role was creating the link between the risk profile and the local rules in the countries where we have strategic employees.”

“Provide academically / technically strong advice in alignment with commercial targets of the task.”

Deloitte has maintained its position as a leading tax advisory firm in Denmark. It provides advice and expertise on all areas of tax law, with more than 260 professionals currently working for Deloitte's Danish tax team. The Northwest Europe corporation network of Deloitte offices attracts several pan-European clients. The firm is led by Niels Josephsen. Head of transfer pricing is partner Kasper Toftemark, alongside Jesper Aagaard Rasmussen and Jesper Skovhus.

The firm provided value chain analysis for the renewable energy sector for international clients. It also assisted one of Scandinavia’s largest insurance firms in a high court litigation victory.

During the research period directors Spencer Moore and Andrea Markholst arrived with managers Martin Dathan and Johanne Knutzen.

DLA Piper Denmark is highly specialised in full-service direct and indirect provision. This includes corporate tax, VAT, automotive tax and dispute resolution. Clients encompass MNEs and SMEs across the pension, automotive and state sectors. Key practitioners are Artur Bugsgang and Claus Holberg.

The firm advised Patrizia on its DKK 390 million acquisition of Ringsted Outlet in Denmark. It also assisted GLS Sweden Holdings with its Danish subsidiary restructuring.

Director Merete Andersen departed during the research period.

Client feedback

“Jakob Schilder-Knudsen has a very impressive knowledge of transaction tax. He really is the best in the market.”

“Constant push for clear government answers. They are transparent and realistic in their feedback and approach to new assignments.”

Gorrissen Federspiel is coveted for M&A and real estate transactions, inward investments, and group reorganisations. The team is renowned for tax litigation on EU and Danish mandates for multinational clients. Specialist focus covers FMCG, financial services and pension funds in a cross-border context. Key practitioners include partner Jakob Skaadstrup Andersen and managing counsel Jan Steen Hansen.

The practice provided structuring advice to Chr Hansen in one of the largest domestic mergers, valued at US$12.3 billion. It also represented TotalEnergies against the Danish Ministry of Taxation in a landmark transfer pricing court case pending before the Supreme Court.

Partner Jakob Krogsøe arrived from Bech-Bruun in January 2023. Senior tax counsel Anne Becker-Christensen also arrived during the research period.

Client feedback

“Proactive, best-in class knowledge and advisor experience.”

KPMG has continued its accelerated growth, to rival leading advisory firms in Denmark. It can assist in all areas of taxation but has a special focus on growing its tax technology department. The firm is also known for its activities in the controversy field, transactional taxation and financial services taxation. Key practitioners are transactions partner Ria Falk, indirect partner Flemming Lind Johansen and corporate partner Søren Dalby.

The firm provided buy-side assistance relating to structuring and due diligence for a restoration provider. It also counselled a transfer pricing dispute featuring an arbitration strategy.

Kromann Reumert is a versatile full-service firm with reputed multidisciplinary capability. Service lines encompass domestic and international taxation, pertaining to litigation, VAT, incentive schemes and transfer pricing. Practice head is litigator Arne Møllin Ottosen, alongside transactions partner Michael Nørremark.

The firm provided tax advice to FLSmidth in its acquisition of thyssenkrupp's mining business. It also assisted Danish private fund Axcel with an end-to-end IT services acquisition.

Client feedback

“Everything works very well.”

Plesner is widely regarded as a leading Danish law firm for all areas of tax law, including tax litigation. The firm boasts a tax department including eight partners and 11 lawyers that includes reputed litigators Hans Severin Hansen, Lasse Esbjerg Christensen and Tom Kári Kristjánsson.

The firm represented multiple taxpayers in the beneficial owner tax cases, achieving Supreme Court victories that garnered media attention. It also counselled a client on a Danish transfer pricing reinsurance dispute.

Senior counsel Lars Toft arrived from ATP during the research period.

Client feedback

“They are professional, serious, have high ethical standards and maintain the highest legal capabilities.”

“Very strong and proactive.”