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Danish companies

These 20 companies have paid the most in tax – one industry in particular takes up a lot of space

Some companies have cracked the code on how to make huge profits year after year, while others lag a little behind.

It must be said that the pharmaceutical giant Novo Nordisk belongs to the first category.

As recently as Wednesday, you got an example of this, when the company presented an operating profit of DKK 102.6 billion in 2023.

A new calculation from the Swedish Tax Agency, which shows which companies paid the most in corporation tax in 2022, proves once again that Novo knows how to make money.

At the top is the company Novo Holdings A/S – the main owners of Novo Nordisk – namely with 8.7 billion kroner paid in corporation tax.

In fact, Novo Nordisk has paid almost three times as much as the next on the list, the energy trading company Danske Commodities, which buys electricity and gas in high-production areas and sells it in low-production areas around the world where the need is greatest.

Novo Holdings A/S also topped the list in 2021.

The many companies that contribute to coins in the state treasury will also get a thank you along the way from Tax Minister Jeppe Bruus (S).

– I would like to say thank you to all the many companies, their owners and employees who contribute to the financing of the Danish welfare society.

– 2022 was in many ways a difficult year, and despite this the companies manage to deliver great results, says Jeppe Bruus.

Corporation tax in Denmark is 22 percent of the company’s taxable profit.

Energy companies fill up

It did not go unnoticed when the prices of both oil and gas plummeted after the war in Ukraine began.

And it can also be seen from how much the companies that deal with those raw materials pay to the treasury.

For 2022 was a particularly good year for the energy companies.

In fact, as many as nine companies that deal with energy either in the form of extraction or trading are in the top 20 of the companies that paid the most in corporate tax in 2022.

At the top of the energy companies, as previously mentioned, Danske Commodities is at the top with almost DKK 3.3 billion.

The third and fourth places on the entire list also go to energy companies. Andel Holding, which owns Andel Energi, paid over DKK 2.3 billion, while Incomas Holding paid just under DKK 2.3 billion.

Continued high payment

A total of just over DKK 94 billion in corporation tax has been collected in 2022.

Overall, the new figures show that the collection is above the average for the past six years.

But there is a big difference in how much companies and groups pay in corporation tax.

In 2022, the ten largest payers accounted for approximately 28 percent of the total payment. If you look at the 100 largest payers, they have together paid more than half of the total corporation tax in 2022.

– Despite difficult framework conditions with high inflation, rising energy prices and war in Europe, the Danish companies and groups have delivered solid results in 2022. This is reflected in the high proceeds, says Tax Minister Jeppe Bruus.

You can see the entire list here.

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