Exercise 2_Company tax_21 Feb. 2025 by bLlW4bIAG8 Ybao5tejNn

2025-02-21 10:16:31 UTC

top 10 companies that paid the most corporation tax in 2023
How much of the total taxes did these 10 top companies pay in 2023?
Which sector payed the most taxes in 2023
We could compare the results from other years

Salma and Kieran

2025-02-21 10:17:33 UTC

Novo Nordisk is far and away the biggest contributor of corporate sales tax in Denmark. They contribute more than the next top four companies combined.
At the same time, roughly 57% of Novo Nordisk's sales come from the US.
What would the impact be on the Danish economy and power of the welfare state in the event of American tariffs or sanctions on Denmark, perhaps in a conflict over Greenland?

Novo Holdings A/S

2025-02-21 10:20:17 UTC

We were interested to look at the amount of taxes taht goes toward green initaitives created by the sate; indeed, the compagnis prides itself to be a leader in the gren investment and social justice.

Quantity vs. quality

2025-02-21 10:22:01 UTC

Using AI, we analyzed the dataset to classify the top 100 corporate taxpayers in Denmark by sector. When categorizing them based on the number of companies per sector, the most common industries were:

• The largest category, making up 82% of the companies, was classified as “Other”, which includes technology, real estate, transportation, media, food & beverages, and construction.

• Banking & Finance followed, accounting for 6% of the companies.

• Industrial & Conglomerates made up 4%.

• Energy represented 3%.

• Pharmaceuticals & Biotech accounted for 2%.

• Retail & Consumer Goods, Insurance, and Gaming & Entertainment each contributed 1% of the companies.

Next, we categorized the companies based on total tax revenue contributed by each sector, and the ranking shifted significantly:

• Pharmaceuticals & Biotech emerged as the largest contributor, accounting for nearly 28.8% of the total corporate tax revenue.

• Banking & Finance, despite being the second most common sector by number, contributed 26.7% of the total tax.

• The Industrial & Conglomerates sector followed with 12.8%.

• The “Other” category, despite being the largest in number, accounted for 18.99% of the total tax revenue.

• Energy companies contributed 6.3%.

• Insurance accounted for 2.4%.

• Retail & Consumer Goods contributed 2.3%.

• Gaming & Entertainment, despite being a small sector, made up 0.9% of the total tax.

• Transport & Infrastructure accounted for 0.7%.

These results highlight how some industries, though not as numerous, play a crucial role in tax contributions, particularly Pharmaceuticals & Biotech and Banking & Finance. Conversely, the “Other” category, despite having the highest number of companies, contributed a smaller proportion of the overall tax revenue.

2025-02-21 10:22:04 UTC

It is curious that the company that paid the most taxes is a non-profit organisation with philanthropic objectives, which mission is to progress research of cardiometabolic and infectious diseases as well as to advance solutions to support a green transformation of society - at least in their own words.

It would be interesting to look deeper into this situation.

Geri, Uma

2025-02-21 10:23:57 UTC

We can make a story about financial companies dominating the top 10 list of corporations paying in taxes. This might be crucially related to the fact that last year eurozone experienced an increase in interest rates which turned out to be very profitable for banks and investment companies
Also we noticed that Novo Nordinsk is such a huge company that it pays in taxes at least 1/3 of the sum of all the other corporations in the list
We notice patterns of huge market segments in the data. The big 8 companies pay 150% more than the sum of all the others
Lego and the role it plays in the economy of Denmark. Kirkbi its parent company, the third biggest contributor in corporate tax in the economy -> more than children toys
We can look at the financial performance of Velliv pension fund since its such a huge topics concerning more than 420 thousand citizens in Denmark
On the list we see that they are several high corporate tax paying family owned businesses raising questions how the ownership of this companies influences how they operate
A lot of corporations are owned by trade unions in Denmark. We can take a look and overview how was their perfomance to compre with over forms of structure owenrship
We can merge two datasets. The top 100 corporations and the number of international employees they hired to see their contribution

2025-02-21 10:24:18 UTC

Novo Holdings contributes far more than the other companies in terms of taxation.
Novo Nordisk is the second biggest company per market capitalisation in Europe and the only Danish one of that size.
What is the actual "toll" of the taxation on Novo Nordisk? If they were based in countries with more liberal taxation regimes, what would that entail for the company?

Dwayne

2025-02-21 10:24:55 UTC

The top 5 are in the finance and banking industry (around 40% of total corporation tax)

Other top industries: Energy solutions, Shipping, Manufacturing, F&B.

Foreign companies are taxed less than Danish companies.

2025-02-21 10:25:05 UTC

Novo Nordisk occupies 27% of top 100 companies which means this company earn money the most in Denmark.
Only the Top 5 companies bear more than 50% of the tax. Four of the other companies are in the financial sector, which shows how unique Novo is as a pharmaceutical company.
We can investigate how Denmark investment to Novo as the national top company and how Novo has grown up so far.

2025-02-21 10:26:54 UTC

1.Divide the 100 companies into different sectors: energy, groceries/food, merchandise, media companies, financial institutions, medical institutions and see which sector contributes more to GDP, work opportunities and investment.

2, Most of the companies in the top 100 are private companies, could have a more in-depth investigation in private company and economy development in Denmark.

2025-02-21 10:27:11 UTC

1, Most largest companies are investment companies and bank, in financial sector.

2, Most are local Danish companies.

3, Novo Nordisk contributes the largest portion and even equals to the add-up amount of other companies.

Economic Self-Sufficiency?

2025-02-21 11:09:34 UTC

After checking the top 10 companies that paid the highest corporation tax in Denmark in 2023, we can see that they are all Danish enterprises.

If these companies were not Danish, the tax revenue would not directly benefit Denmark's economy and society in the same way.

We can try to check a 10-year frame to see the trend and whether Denmark is getting +/- dependent on international companies' revenue.