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Norway Requires a New Electronic Tax Reporting

24/11/2021

Norway has announced the declaration of a new electronic tax declaration that will come into effect in January 2022 and impact all companies, national and foreign with a revenue of 50,000 NOK (4,975 ) during the last fiscal year.

The Norwegian tax authority “skateetaten” is in the process of modernizing its tax declaration system. The tax authority’s plans began in 2019 and will be completed by 2023. They have implemented and announced a new service to register companies for VAT reporting and have implemented a new solution that will improve the quality of tax data pertaining to the current fixed box system that is reported through the “Altinn” system.

 

Norwegian VAT Reporting News

The VAT reporting system announced by the “Skatteetaten” has not been completely detailed, but all companies that have a revenue of 50,000 NOK or 140,000€  will need to stay updated

with the electronic tax declaration system which enters its test phase the last trimester of 2021. Beginning in January 2022 if your VAT declaration is not adjusted to the new requirements it could be rejected by the tax authority. More information here.

The new system advances towards the automation of management and elimination of physical cash registers. One of the main advantages of the new system is that VAT reporting can be directly sent from the company’s ERP system.

The new VAT  declaration will be based on the information on the financial accounts and will use SAF-T tax codes. the implementation of VAT reporting does not replace the declaration of the SAF-T for companies obligated to report it.

The VAT declaration must be conducted every two months. the new system considers the validation of the format as well as the content of the declaration upon submission by the “Skateetaten”, which is a major improvement over the current system, reducing a processing time of weeks to minutes.

 

How to manage VAT Reporting?

EDICOM as an EDI specialist has helped many companies operating in Norway to comply with tax reporting obligations. EDICOM’s “Tax Compliance Platform” helps clients comply with tax obligations from a single electronic platform.

The VAT declaration

The VAT declaration is similar to that of the SAF-T declaration system. The VAT reporting consists of a series of accounting books that the client generates and communicates to EDICOM. The report is generated every two months which can be automatically executed through EDICOM´s SAAS EDI software. The client can also download and manually upload the file to the “Altinn” platform.

EDICOM Tax Compliance Platform adapts to the legal and technical requirements of each country. It can be integrated with the company’s ERP. It uses maps to automatically transform information that is generated in your system’s proprietary format to the electronic system required by every tax authority (XML, UBL, SAF-T, etc.).

Once the message has been validated, mechanisms to guarantee its legal value are applied like: the electronic invoice, the time stamp, and other certificates. With this the document is ready to be sent.

Finally, the data is validated syntactically and semantically to confirm that the file is correct according to the specifications of the destination country.

 

 

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