Taxes & VAT
Companies and businesses that are not domiciled in Norway and self-employed persons who are not resident in Norway may become liable for tax in Norway on income generated through activity that they carry on or participate in and which is operated or managed from Norway. They may also become liable to pay tax for the hiring of labour to Norway.
- Taxes in Norway
- VAT Reporting
- VAT Representation
- Transfer Pricing Services
VIEW Tax reports to the tax authorities through the portal Altinn. Yearly controls and reconciliations of all routines and procedures are carried out to ensure that the reporting and the quality is in accordance with the existing laws and regulations.
- Bookkeeping & Invoicing
- Cloud Storage
Payroll & HR Services
Based on the information related to the employment contract and the information from the RF-1199-scheme, the employee is remunerated in accordance with the reported hours worked, and of which can be registered directly in the system. Full service related to withholding tax, payroll tax, salary slips, “a-melding” etc. is part of the delivery.
- Payroll Settlement
- Forms and Identity Verification
- Hiring and Contracts
- A1 & Pay as you Earn
- HSE-Cards for Construction
- Workers & Cleaning Industry
We always stretch far to help our clients with whatever questions or worries they have. We make sure we always find the answers for our clients. We carry out all sorts of advisory, and if we do not have the right tools to answer, we make sure we lead the client in the right direction.
- TAX Treaty
- Ad hoc Advisory
- Permanent Establishment in Norway?
- Labor Hire- or the Enterprise Condition?
One stop compliance service for foreign companies settling in Norway
VIEW Tax, through strategic partnership with a Norwegian transfer pricing boutique networked in over 40 countries, can provide transfer pricing advisory and compliance services to reduce your company’s risk and optimize your tax position in Norway. Transfer pricing confirmed as tax audit area of focus by Norwegian Minister of Finance On 3 February 2020 the Minister of Finance reaffirmed to the Norwegian Parliament that transfer pricing remains a primary focus area of tax audit and scrutiny for historical, current and future tax years.
Transfer pricing documentation
The starting point for the Norwegian audits is typically a taxpayer’s transfer pricing documentation. This documentation is a compliance requirement for many companies, branches and permanent establishments operating in Norway. Failure to provide transfer pricing documentation allows for the Tax Authority to make a “discretionary adjustment”, which means that the Tax Authority can determine the amount of tax they believe the taxpayer has underpaid. Thus, the burden of proof is transferred from the Tax Authority to the taxpayer making it substantially more difficult for the taxpayer to successfully argue its position.
Are you liable to produce documentation
In general, Norwegian taxpayers with NOK 10 million or more in intercompany transactions in the year are required to submit transfer pricing documentation.
A small group exemption to the documentation requirements is provided for taxpayers that are members of a group of companies with fewer than 250 employees worldwide AND with aggregate group revenue in the year under NOK 400 million (or an outstanding group balance of under NOK 350 million).
Feel free to contact us if you’d like to discuss Norwegian transfer pricing considerations further.
VAT must be reported periodically six times a year. The reporting to the Tax Authorities will be made electronically through the portal Altinn.no. The payment of VAT needs to take place at scheduled times and transferred to a fixed bank account by using a specific identification number (Norwegian: KID). The Tax Authorities, on the other hand, will transfer any tax benefits to the client’s Norwegian bank account, should the client be entitled to such a refund.
If the enterprise’s turnover is less than NOK 1.000.000/year, it is possible to apply for yearly VAT reporting.
The requirement for reporting, documentation and storage of information is regulated by the Bookkeeping Act and the VAT Act. VIEW Tax is subject to authorization by the Accountants Act.
Every company running business in Norway needs a registration number. For most companies it will be sufficient to register in the Central Coordinated Register for Legal Entities, but for some others it will be necessary to register in the Companies Register.
When the level of turnover stretches beyond 50.000 NOK, the company has to register in the VAT Register. Once the registration has been approved the letters MVA (English: VAT) needs to be added straight after the registration number.
Clients from certain EES/EU countries do not need to have their own representative in Norway. The requirement for reporting, documentation and data storage will nonetheless remain unchanged. As such, it will, for most clients, be practical to have their own representative that can safeguard all such obligations.
There will be an expected duration of 2-3 weeks for registering the company in the Central Coordinated Register for Legal Entities or the Companies Register. Then it will take yet another week for registering in the VAT Register. Do you need VAT Representation? Contact us for more information.
Bookkeeping & Invoicing
VIEW Tax offers invoicing through the Internet application Xledger. We customize the layout with the client’s logo, legal notice and the product codes as a part of the start-up procedure. The client may carry out the invoicing himself through his own user profile and access to the application. The client’s need of storage and documentation is covered by using this invoicing solution, where all transactions are documented by an image of the invoice document(s). The application allows sending out dunning letters and interest notes on overdue payments. The procedures are in accordance with Norwegian law, but it is entirely possible with individual customization of the reminders.
The bank integration allows real-time information on the Accounts Receivable and liquidity. For clients who use the service of VIEW Tax’ Client Account, the settlement towards the customer will be ongoing.
Norwegian law allows clients to invoice through their own system. However, the requirements for an invoice number, ledger specification, sales documentation and storage of information will remain the same – independent of which system is in use. By selecting this option, the client will have to make the information available for inspection upon request of a representative or a public authority.
VIEW Tax reports to the tax authorities through the portal Altinn. The report is based on the book keeping that is performed during the specific period, including reconciliations and the quality control of documentation as well as full settlement. Yearly controls and reconciliations of all routines and procedures are carried out to ensure that the reporting and the quality is in accordance with the existing laws and regulations. In this respect, the client gets to experience that delivery is in line with what has been agreed upon as well as those expectations that underlie the mission.
All documentation is stored in the application Xledger, as well as transactions, invoices and reports. The storage meets the Norwegian government’s requirement for electronic storage.
What Our Customers Are Saying
Good customer relationships lead to good ideas. Together we have found many innovative and effective solutions to create a good financial overview and structure.
“When we start a project in a new country, it is essential for us to find the right competence for local laws and tax legislation. When we found Malin and VIEW Tax we were very happy.”
“When we expanded to Norway, we contacted several tax accountants. We chose VIEW Tax. To do local tax yourself is time-consuming.”