Cooperative enterprises

In Year-end closing - Tax Information - Information - Additional Information - Cooperative Enterprises, cooperative enterprises can provide information about the proportion of taxable income derived from the company's transactions with its own members.

The area consists of both manual fields and pre-calculated fields from the accounting. You must calculate some values yourself based on whether they relate to Sales to or Purchase from members, Repayment to members in the same cooperative enterprise, and Carried forward deduction limit from previous years.

See Items, fields and topics in the new tax return for businesses for more information.

Field explanations

Type of turnover from members

Here, choices are made indicating whether the calculation should be based on Sales to members or Purchases from members in the same and/or other cooperative enterprises.

Turnover to members in their own cooperative enterprise (excl. VAT) / Purchases from members in their own cooperative enterprise (excl. VAT)

Here, net sales to / purchases from members in their own cooperative enterprise are specified (based on the selection in type of turnover).

Turnover to members in other cooperative enterprises (excl. VAT) / Purchases from members in other cooperative enterprises (excl. VAT)

Here, net sales to / purchases from members in other cooperative enterprises are specified (based on the selection in type of turnover).

Other turnover (excl. VAT)

Calculated residual amount (Total turnover - sales/purchase activity related to members).

Total turnover

Total sales / purchases taken from the balance sheet (automatically calculated).

Area: Taxable business income

Taxable business income for cooperative enterprises

The value is automatically retrieved from the tax calculation.

Proportion of turnover from members in own cooperative enterprise

Automatically calculated value.

Taxable business income from turnover with members in own cooperative enterprise

Automatically calculated value.

Area: Repayment to members

Are the conditions for deduction for repayment fulfilled?

The choice indicates whether the cooperative enterprise meets the conditions specified in skattelovens §10-50.

Repayment to members in own cooperative enterprise

Here, the total amount to be repaid to members in their own cooperative enterprise is specified.ecting.

It is possible to create an automatic system voucher for repayment.

Note

Note that if the amount specified here is: >sum Taxable business income for cooperative enterprises + carried forward deduction limit for repayment from previous years, this will appear as Non-deductible repayment to members in their own cooperative.

Excess amount is added to income and appears as a permanent difference. The value will appear under Tax Calculation - Other

Area: Restriction of deduction right:

Non-deductible repayment to members of own cooperative

Automatically calculated value. (The value in this field will appear as a permanent difference and be transferred to Tax Calculation / Other Adjustments and added as an addition to income. The amount is transferred to the Tax Return. This occurs if the paid amount is >sum Taxable business income for cooperative enterprises + carried forward deduction limit for repayment from previous years).