Pursuant to the Danish Foundation Tax Act, the Novo Nordisk Foundation is taxed in accordance with the general rules of Denmark’s tax legislation applying to limited liability companies but with the exceptions stipulated by the Danish Foundation Tax Act.
In addition, the Foundation may reduce its tax liability based on the grants it awards. In addition to deducting the amount of the grants, the Foundation may take advantage of special provisions for consolidation purposes of 4% if the grants are awarded for charitable purposes.
Unlike the rules applying to limited liability companies, losses may not be carried forward and are therefore annulled if the Foundation has no taxable income.
Relevant links to taxation laws applying to foundations
Danish Foundation Tax Act (in Danish)
Danish Commercial Foundations Act (in Danish)
Guidelines on taxation of foundations (in Danish)