Performance

Tax & Legal - Empowering our clients through transparency and compliance

If you had asked us a year ago, we would never have thought that we could have achieved 7 per cent revenue growth in such uncertain times. However, we can look back at a year, which has been busier than we dared to hope for. We have helped our clients navigate both new and familiar challenges within the changing tax and economic landscape. Within mergers and acquisitions, we have been very busy assisting several of the largest Danish multinationals with the complex tasks that cross-border transactions entail.

We have of course felt the social effects of the pandemic, but we are happy to see that our people have stayed close and supported each other in a year of virtual activities and limited social interaction. This strong culture is among the reasons why we have been able to attract and retain talented colleagues throughout the year.

Side effects of COVID-19

Although the pandemic meant a significant reduction in international postings and immigrations, the shift in working patterns simply led to other forms of mobility requests. At the same time, the pandemic has fast-tracked the digital transformation and emphasised the need for systems that not only digitalise processes but also help organisations be compliant and transparent.

In addition, the increase in online shopping combined with new EU regulations on e-commerce have amplified the need for better reporting. So, we are excited to launch our newly developed app that helps our clients easily report on taxes and duties across countries. This is an example of how we continuously strive to facilitate transparency within global trade.

The future of tax may be global

Working within an area that is heavily affected by legislation and policy means that both local and international changes in tax regimes require adjustments to business structures and models. With Joe Biden’s suggestion of a global minimum corporation tax of 15 per cent and the EU’s proposal for an ambitious business tax that supports Europe’s recovery from COVID-19, we expect a future where fair and correct tax payments will be even more important to remain competitive. We look forward to continuing to empower our clients through transparency and compliance.

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