Tax report for Danish residents

etoro doesn’t provide tax advice. Any data reported in the tax report is strictly for informational purposes only and it isn’t intended as a tax declaration or as a substitute for legal advice. We strongly advise you to verify the tax report with your tax advisor.

On this page, you will find information about tax reporting in Denmark. etoro Club members living in Denmark can generate a tax report based on the previous financial year’s investment activity on the etoro platform, structured in accordance with local tax guidelines.

Select a question to go directly to that topic.

1. What should I be aware of when reporting taxes in Denmark?
2. What does the Danish Tax Agency consider taxable?
3. How are capital gains calculated in Denmark?
4. Why are the capital gains between the etoro account statement and the tax report different?
5. What are the official tax forms and where can I download them?
6. Can I use the etoro tax report as a basis for filling out official tax forms?
7. Form 04.012
8. Form 04.003
9. Form 04.068
10. Form 04.055
11. Annex

What should I be aware of when reporting taxes in Denmark?

• The tax year is from 1 January to 31 December.
• The report can be submitted in electronic and paper format.
• The deadline for the tax assessment is 1 May 2024. However, extended tax returns or foreign income can be submitted by 1 July 2024. The reporting of purchases on shares and funds must be reported before 1 July 2024 so further losses can be deducted.
• The reporting currency is the Danish Krone (DKK). Source for exchange rates: Danmarks Nationalbank.
• The reporting language is Danish.
• The information related to the acquisition of securities must be kept for the following reasons:
• Audit purposes, since the accounts are held abroad.
• To be able to deduct losses on shares and funds, by providing information about these purchases to the Danish Tax Agency.

What does the Danish Tax Agency consider taxable?

• Income: Share income and capital income.
• Capital Gains: Capital gains from shares (share income), other securities (capital income), and cryptoassets (personal income).
• Wealth: There is no wealth tax. However, the year-end market value of assets held in foreign deposits must be reported.

How are capital gains calculated in Denmark?

The capital gain/loss on an asset can be calculated by subtracting the cost basis (purchase price) of an asset from the value of the asset when it was sold.

If many positions are held on the same asset, bought at different prices, there are several methods for working out the cost basis. In Denmark:

• For all securities, the weighted average is used.
• For cryptoassets, the ‘first in, first out’ (FIFO) method is used.
• For CFDs, specific lot identification is used.

When reporting the year-end market value of financial contracts and investment funds, the mark-to-market principle is applied. This means that at the end of the year, a capital gain/loss is calculated by taking the year-end price of the current year and the year-end price of the previous year (or the acquisition price if acquired during the year) into account. The weighted average calculation is applied to these asset classes too.

For details on these methods, visit our article on cost basis.

Why are the capital gains between the etoro account statement and the tax report different?

You may notice differences between your etoro account statement and your etoro tax report. These can be attributed to the different methods used to calculate capital gains.

• Account statement reporting method: Specific lot identification
• Tax report reporting method:
• For all securities: Weighted average method
• For cryptoassets: First in, first out (FIFO)
• For CFDs: Specific lot identification

Additionally, to calculate the financial data presented in the tax report, the values of the positions are converted from USD to DKK at the time of position opening and closing. This conversion process may result in a further difference in the end value between the account statement and the tax report.

What are the official tax forms and where can I download them?

• Form 04.012

This is the form to report income from abroad. The market value of Danish shares held in foreign deposits is also included in this report.

• Form 04.003

This is the form to report personal income and capital income from Danish securities.

• Form 04.068

This is the form to report income from Danish shares and certain Danish investment funds.

• Form 04.055

This form is used to offset profits or losses on financial contracts from previous years. The taxpayer may choose whether to include information here. There is a table and an annex in the etoro tax report that includes gains/losses from previous years to help you complete this form.

Can I use the etoro tax report as a basis for filling out official tax forms?

In this section, we will go through the official forms one by one, showing where to enter information found on your etoro tax report.

The coloured boxes from the tax report screenshots correlate to the same coloured boxes in the screenshots of the tax forms.

The information on this page should not be used as a guide on how to fill in your tax return. Please review the official notes on the tax forms and consult your independent tax advisor for questions.

Form 04.012

etoro tax report

In the etoro tax report, there are four sections that are relevant to form 04.012. We have outlined these sections with individually coloured boxes in a screenshot of the etoro tax report below.

Official form

Using the previous image as a reference, below you will find examples of the corresponding sections on screenshots of the official form 04.012.

In case the paper format is used to declare the amounts, the total amounts must be also included in the official form.

Form 04.003

etoro tax report

In the etoro tax report, there are four sections that are relevant to form 04.003. We have outlined these sections with individually coloured boxes in a screenshot of the etoro tax report below.

Official Form

Using the previous image as a reference, below you will find examples of the corresponding sections on screenshots of the official form 04.003.

For foreign accounts, the above boxes may not be applicable.

Form 04.068

etoro Tax Report

In the etoro tax report, there are four sections which are relevant to form 04.003. We have outlined these sections with individually coloured boxes in a screenshot of the etoro tax report below.

Official Form

Using the previous image as a reference, below you will find examples of the corresponding sections on screenshots of the official form 04.068.

Annex - Losses from financial contracts - Form 04.055

In case of losses on financial contracts, these losses may be offset against other gains/losses from previous years and other instrument types.

Form 04.055 should be used to offset these losses.

etoro Tax Report

The annex is used for information purposes since the figures included in form 04.055 depend on the taxpayers’ election.

There is one section in the etoro report which is relevant to this form, outlined in the screenshot below.

Official Form

Annex – List of purchases

The list of purchases within the reporting period includes information regarding the price paid for the securities acquired within the reporting period.

This list can be used to inform the Danish Tax Agency about purchases of shares and investment funds, so any loss on these securities can be deducted in the future.

There is no official form for this, but the table could be attached as additional information.

Below is a screenshot of the list of purchases from the etoro tax report: