According to the Norwegian Tax Administration, all Norwegian limited liability companies and other companies can file a tax return. This year, tax returns must be submitted in a completely new way.
New tax return for 400 companies
The Norwegian Tax Administration is currently open to filing a new tax return for limited liability companies and other companies. This is the final stage of transformation for Norwegian business and industry. This year, many companies are faced with a new tax return for the first time.
– This year, the entire business sector will file a new tax return, which is an important milestone for both businesses and the tax administration, says Tax Director Nina Schanke Funnemark.
The Norwegian Tax Administration has been working closely with the business community to introduce the new tax return. In particular, accountants and auditors actively contributed to the creation of the new tax return. The new tax return was developed in cooperation with over 20 system providers.
Also read: Now the invoice will be issued monthly
Meeting a brand new tax return
So far, entrepreneurs and companies have submitted tax returns, income certificates and attachments.
– The new tax return for the self-employed is similar to the one first introduced in 2020 for employees. In other words, it's much simpler, tidier, and easier to use - once you know it. However, this will be a major change that may require additional effort during the transition period, says Schanke Funnemark.
Also read: 13% increase in the number of people using social assistance
Every company must deliver products in new ways
This new business tax return has been launched in stages over the last four years. Beginning with this year's tax return, all tax return/company report and industry specification completions and submissions must be completed through your accounting system or year-end program. The new tax return also means that up to 60 forms with a total of 6 fields will disappear permanently. Old forms can no longer be used in Altinn.
The result will ensure a higher quality of information provided to the Norwegian tax administration. The changes will also reduce the time that entrepreneurs and their advisors spend on processing them.
– If you are a sole trader, in the vast majority of cases you can still file your tax return without having an accounting system or year-end program. If you have a company, you must submit your tax return via your system, explains Nina Schanke Funnemark.
All self-employed sole proprietors will receive their tax return in March, as in previous years.
Change can bring huge benefits
The new tax return checks the quality of the information and provides feedback on any errors before submitting your tax return to the Norwegian tax administration.
By using the information check and approval function, your accounting system or year-end program can perform the same checks that the Norwegian Tax Administration does when the Tax Administration receives a tax return. As a result, there will be less follow-up once an application is submitted.
More information about the new one tax settlement for self-employed people and companies can be found at skatteetaten.no.
Like us on Facebook and share our post with others
Source and Photo: Norwegian Tax Administration/Tax Director Nina Schanke Funnemark
Also read: The Norwegian Confederation of Trade Unions considers Norges Bank's interest rate policy to be wrong
