Norway: Mandatory SAF-T Reporting
22nd May 2019: The Norwegian tax authorities have confirmed plans for the SAF-T launch from the start of 2020.
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.
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.
See more Taxback International Articles
French Tax Office extends June VAT Deadline
14 May 2020: The 13th Directive June VAT deadline has now been extended from June 30 2020 to September 30 2020.
Maximise your VAT reclaims to boost your cash flow
11 May 2020: June 30th is the EU deadline for reclaiming all VAT from travel and expenses for 2019- are you ready?
Global VAT rate changes: April 2020
8th May 2020: A roundup of all the VAT rate changes announced by tax authorities last month.