In light of the rising numbers of Covid-19 positive tested individuals in Denmark, the country will experience a full lockdown during the Christmas season. A large number of companies, restaurants and shops have been asked to shut down, which will likely have an impact on their business as well as liquidity.

The government and the supporting parties have agreed on another stimulus loan arrangement for small and midsized companies. The added lockdown and prospect of having to pay withholding tax twice in January (for December 2020 and the postponed August 2020, see here for more info). The loan is provided upon application and the amount to request is the sum of the withholding tax for August 2020 and December 2020.

The loan is provided on similar terms as the VAT-loan, meaning 0 % interest and payback deadline of 1st November 2021. The loan is expected to be paid out in February 2021. The taxes for August 2020 and December 2020 are still due on 29th and 18th January 2021.

If approved for the loan, it will be paid as a credit to the tax account (“skattekontoen”).

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