Mobile: +45 22 58 70 25
We are very pleased to announce that David Schjelde, will join CORIT as Senior director, Transfer pricing as of 1. October 2021.
David will contribute with a broad experience combined with the technical skills needed to excel in transfer pricing.
In his past David has extensive experience in management and business strategy. From the role as CFO he has helped set up and implement corporate structures, transfer pricing strategies and procedures and IPR strategies and procedures.
The diverse background has given David the ability to analyse different organisations and understand their transfer pricing challenges from a practical perspective to the benefit of clients. He knows many of the issues that relate to implementation of transfer pricing procedures in accounting and elsewhere in a multinational organisation.
Please do not hesitate to reach out to David or any other CORIT member if you want to learn more.
Senior Director, M.Sc. Business Administration and Commercial Law
Mobile: +45 22 15 51 44
David Schjelde advises on transfer pricing matters and handles project management. From being a trained tax consultant in big 4 firms, he has mostly been active as CFO in software companies, ranging from startup status to bigger, mature multinational organisations. He also has experiences as COO/CFO in law firms.
David’s broad experience has given him the ability to analyse different organisations and understand their transfer pricing challenges from a practical perspective for the benefit of clients.
2021- Senior Director, CORIT Advisory
2019-2021 Group CFO, EveryMatrix
2019-2019 CEO, MoneyMatrix
2016-2019 CFO, Reviso
2015-2016 CFO/COO, SundhedsDoktor
2014-2015 Direktør, Svejgaard|Galst|Qwist Advokataktieselskab
2009-2013 COO, Moalem Weitemeyer Bendtsen Advokatpartnerselskab
2007-2009 CFO, BetBrain(/EveryMatrix)
2006-2007: Finance Manager, ITAB Shop Concept
2006-2006 CFO, Excitor
2001-2005 CFO, Kapow Technologies A/S
2000-2001 Tax consultant, PricewaterhouseCoopers
1999-2000 Tax consultant, Deloitte
1998 – Master of Business Administration and Commercial Law, University of Aalborg
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We are pleased to announce that we will expand our services into the area of VAT. Our strategic emphasis has been not to offer VAT advice before we could ensure the same level of technical abilities as within other service areas. We have been able to attract leading VAT advisor Thomas Svane Jensen to the team as an associate partner. Thomas brings with him more than 20 years of experience, including as a tax partner and head of Deloittes service line and as co-founder of tax boutique firm. In his practice Thomas Svane Jensen focuses on complex VAT issues and is often engaged by leading MNEs and financial institutions as a trusted advisor with strategic impact.
Please do not hesitate to reach out to your CORIT contact in case you wish to hear more about the VAT service offering.
Thomas Svane Jensen
Mobile: +45 25 17 18 55
Thomas advises on matters within indirect taxes. This is based on an extensive experience from both Big-4, the Danish tax authorities and working abroad.
This includes advice in areas such as the scope of the VAT exemptions, audits and controversy and transactions both within real estate and M&A. Furthermore, Thomas holds significant insight into the application of technology as well as the organization of the Indirect tax function within large national and multinational clients.
Thomas has for several years been named as an Indirect Tax leader by International Tax Review.
2021 – Associate Partner, CORIT Advisory
2014 – 2021 Equity Partner and head of Indirect Tax in Denmark and the Nordics, Deloitte
2009 – 2014 Partner, Deloitte
2007 – 2009 Partner and co-owner, IQ Tax
2004 – 2007 Senior Manager/Partner, Deloitte
2003 – 2004 Senior Manager, Deloitte Central Europe (Bratislava)
1998 – 2003 VAT consultant, Deloitte
1993 – 1998 The Danish Tax authorities
1998/99 – Spearhead education in VAT (1998) and excise duties (1999)
1997 – The Danish Tax Academy Exam.
CORIT Advisory har netop indsendt høringssvar vedrørende udkast til et lovforslag, der umiddelbart har til formål at lempe de administrative byrder for erhvervslivet. Det er vores vurdering, at der er brug for præciseringer førend dette formål kan realiseres. Endvidere er vi kritiske overfor skatteministeriets tolkning af Højesterets afgørelse i Tetra Pak-sagen, der tilsyneladende tages til indtægt for en udvidet fortolkning af kravet om benchmark-studier i den årlige transfer pricing dokumentation – for såvel tidligere som fremtidige indkomstår.
The tax controversy team at CORIT Advisory has successfully represented an international company before the Danish Tax Tribunal. The case concerned the question of whether a construction permanent establishment existed or not during the construction of the Copenhagen Metro.
The case concerned several highly principled legal topics. The case was won with reference to interpretation of the applicable tax treaty, including to what extent the revised version of the commentaries to the OECD’s Model Tax Convention has legal value.
The foreign company had been a subcontractor on the building of the Copenhagen Metro and had in turn subcontracted the services performed in Denmark to sub-subcontractors. From time to time, the foreign company had two individuals who were physically in Denmark to supervise – without the actual power to instruct or sanction – the sub-subcontractors.
Based on the presence of these two employees the Danish Tax Authorities claimed that the foreign company was deemed to have a permanent establishment in Denmark due to the “Construction PE”-rule in domestic tax law and the applicable treaty.
In addition, the Danish Tax Authorities claimed that the entire contract sum should be allocated to the Danish permanent establishment.
The Danish Tax Tribunal amended the decision made the Danish Tax Authorities in accordance with our main arguments. Accordingly, the concrete double tax treaty should be interpreted in accordance with para 17 of the commentaries to the OECD’s model tax convention prepared before 2003 (where the guidelines were revised). The Danish Tax Tribunal emphasized that the interpretation of Article 5(2)(g) was amended by the revised version of the commentaries to the OECD’s model tax convention from 2003 and considered the revised commentaries – in accordance with the claim made by CORIT – as material amendments and not mere clarifications.
The Danish Tax Tribunal held that the foreign company did not have a Danish permanent establishment neither due to the company’s supervision of the construction and installation activities performed by sub-subcontractors, nor due to basic PE-rules as the company did not have office facilities at its disposal at the construction sites for the use of the supervision assignment. Based on this clear dismissal of the arguments of the Danish Tax Authorities, there was no reason to rule on the second issue of the possible profit allocation to a PE.
The case shows that unlawful claims made by the Tax Authorities can be overturned using the right arguments. In this case, the legal foundation of the Danish Tax Authorities was severely flawed and directly in contradiction with international doctrine. We are therefore, pleased to see that the Danish Tax Tribunal rules in favor of the foreign company.
Sofie Cecilie Friis
- “Kvalifikationen af udenlandske enheder – forsøg på systematisering af nyere praksis fra perioden 2013-2021”. Taxo 2021, no. 7, co-authors: Jakob Bundgaard, Michael Tell.
Anna Sofie Burmeister-Sørensen