PFA’s tax policy
PFA manages a significant portion of the Danish pension capital. The companies within the PFA Group are liable to pay taxes as a company, employer and investor. PFA also settles tax within the pension area on behalf of its customers. PFA strives to contribute to increasing transparency within the tax area. Therefore, the Board of Directors of PFA Holding and the boards of directors of the other PFA companies have adopted a tax policy that applies to the entire PFA Group.
The tax policy covers all tax areas where PFA has activities in its capacity as a company, employer and investor. It covers corporation tax, pension yield tax, VAT, payroll tax, employee tax, tax on investments made in Denmark and abroad as well as any other taxes that PFA settles in Denmark and abroad. The policy describes principles for compliance with tax legislation, dialogue with customers and advisory services for customers concerning tax matters, as well as what PFA expects of its business partners and others in relation to tax matters.
PFA’s contribution in the field of taxation
PFA pays and collects a range of taxes and fees annually. Below is an overview of the taxes and fees that PFA has paid and collected. The figures cover the companies fully owned by the PFA Group.
|Total taxes paid by PFA (DKK million)*
|Non-life insurance tax:
|Pension yield tax:
|Taxes according to the Danish Pension Taxation Act:
|Tax at source and labour market contribution (pensions):
|Tax at source and labour market contribution (employees):
* The figures are calculated as at 31 December 2019 and have been rounded off to the nearest whole figure. Changes to the figures will occur in connection with the final statement prior to the final report.
** Adjusted compared to previous announcement.
*** As we have collected the tax accounts for 2019 in one table, the total amounts for 2018 and 2017 have been subject to adjustment.