Transitional rules on the sale of shares purchased before 19 May 1993

In connection with the sale of shares purchased before 19 May 1993, you can either use the market value on 19 May 1993 as the acquisition cost or obtain relief in the taxable gain. You can get a binding ruling from the Danish Tax Agency about the market value. A fee of DKK 400 is charged for a binding ruling.

• Minority shareholders with listed shares may replace the actual purchase price with the market value (the listed price) on 19 May 1993 if the shares were purchased before 19 May 1993.
• Minority shareholders with unlisted shares may replace the actual purchase price with the market value on 19 May 1993 if the shares were purchased before 19 May 1993.
• Main shareholders cannot use the market value on 19 May 1993 as the purchase price, but may obtain relief in the taxable gain.

When applying these rules, it is decisive whether you were a minority shareholder or a main shareholder on 18 May 1993. The rules on main shareholder shares also apply if you were a main shareholder within the last five years before 18 May 1993. It is, however, of no importance whether you are now a minority shareholder or a main shareholder.

If the market value on 19 May 1993 is used instead of the actual acquisition cost, the choice applies to all shares in the same company. A deductible or offsettable loss cannot be higher than the difference between the consideration for the shares and their market value on 19 May 1993.