• Professional News
  • 06 December 2013

Annual reports may now be submitted in English only

From 1 January 2014, businesses in Denmark may submit annual reports in English only. The only requirement is that the business passes a resolution at the general meeting and incorporates the decision into articles of association of the business.

The Danish Parliament, Folketinget, has passed amendments to the Danish Companies Act (selskabsloven) and the Danish Financial Statements Act (årsregnskabsloven) providing that, from 1 January 2014, many businesses in Denmark may prepare and submit annual reports in English only. The only requirement is that the business passes a resolution at the general meeting and incorporates the decision into articles of association of the business.

Annual reports completed by 31 December 2013 or later may be prepared in English only without this having been adopted by a general meeting taking place prior to the general meeting at which the annual report is to be transacted. The resolution may be passed at the next annual general meeting provided that this item is included as an independent item on the agenda prior to the adoption of the annual report.

If the shareholders reject the proposal to submit annual reports in English only, the general meeting should be adjourned until a Danish version of the annual report is ready for review.

Businesses wishing to prepare their annual reports in languages other than Danish or English must still submit bilingual annual reports to the Danish Business Authority.

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