Norway: Mandatory SAF-T Reporting

In 2017, Norway announced to delay the 2018 roll out of its mandatory Standard Audit File for Tax (SAF-T). The Norwegian tax authorities have recently issued information confirming plans for its launch from the start of 2020.

From the 1st January 2020, all companies that keep electronic accounts in Norway will be required to use the SAF-T to report their tax transactional data to the tax authorities. As a result, non-residents will also be impacted.

Norwegian companies have had the option to use a simplified SAF-T since 2017.

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What is SAF-T Reporting?

SAF-T is a standardised XML format providing for the electronic transmission of companies’ accounting data to international tax authorities. It eases the compliance burden for businesses as well as allowing tax authorities to accomplish speedier processing through automation.

Exemptions from Norway SAF-T Reporting

Only companies with an annual turnover of less than NOK 5 million, that do not store their bookkeeping information electronically, will be exempt from this obligation.  Word processing and spread spreadsheet programs are not classified as electronic accounting systems.

Other countries who have introduced SAF-T Reporting

To date, EU countries that have adopted it include Portugal, Austria, France, Lithuania, Luxembourg and Poland.

If you have any questions regarding SAF-T reporting or any other VAT requirements in the Nordic Region, please feel free to contact our Taxback International team.

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