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SAF-T: New mandatory requirements from 01.01.2025
TaxSAF-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.
Beneficial owners
TaxOn 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.
Increased size limits for small enterprises and new size categories
TaxNew 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.
Inger-Lise Hermansen
Director - State Authorized Accountant