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Norwegian proposal to change the VAT regulations for cross-border services

SAF-T Accounting (Financial) is a standard format for exchanging accounting data. SAF-T, or Standard Audit File-Tax, has been developed jointly by industry organizations, system suppliers and the Norwegian Tax Administration, on the recommendation of the OECD.

On 1. October, it was made possible to register beneficial owners in the new register of beneficial owners. By 31. July 2025, companies, several associations, foundations and others must register their beneficial owners in the register.

New size limits for “small enterprises” in the Accounting Act of NOK 84 million in balance sheet total and NOK 168 million in sales revenues will enter into force on 1. November 2024 and will be applied from the financial year starting 1 January 2024, or later. This will lead to more enterprises classifying for the category of "small enterprises" and can use simplified rules for small enterprises.

The register of beneficial owners has now opened for registration. Companies and other legal entities can start registering information about their beneficial owners. In order to give the businesses time to adapt, a phasing-in period of 10 months has been given. The obligation to register information about beneficial was introduced with effect from 1 October 2024, but the rule on compulsory fines will not apply until 31 July 2025.

New requirements for the employment agreement from 1 July 2024

When conduction business in Norway, there may be reporting obligations applicable for your business. In this letter we have summarized the most common reporting obligations for Norwegian branches. A branch (NUF) must be registered to fulfill any reporting requirements.

When do you need a VAT registration in Norway?

Payroll reporting obligations

Foreign entities might have an obligation to register for VAT in Norway

What kind of reporting obligations does foreign entities have in Norway?

HSE/(HMS) – Card for employees

Delhi Government School – an unexpected experience

The United Kingdom left the EU and the EEA on 1 February 2020, for a transitional period until 31 December 2020, the United Kingdom will be treated as a member of the EU and the EEA, also in the tax area and all EEA-relevant tax rules will be continued. After the transition period, cross-border activities between Norway and the United Kingdom will in principle be treated in the same way as cross-border activities between Norway and countries that are not parties to the EEA Agreement.

The importance of diversity

In a press release on the 16th April, the Norwegian tax authorities have announced that due to the Corona situation the deadline for filing of tax return for the fiscal year 2019 will be extended. Given the current situation with layoffs, working from home and other issues related to Corona the authorities have given companies more time to file their returns.