Norway: Accounting records of corporate taxpayers | KPMG | GLOBAL
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Norway: New requirements, accounting records of corporate taxpayers

Norway: Accounting records of corporate taxpayers

Norway’s tax administration is planning to implement a standard chart of accounts that would apply for the majority of Norwegian and foreign entities that have a statutory obligation to keep accounting records for their business activities in Norway. This new rule is referred to in English as the “Standard Audit File – Tax” (SAF-T).


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With few exceptions, beginning 1 January 2017, all corporate entities—whether residents of  Norway or having physical presence in Norway—would be required to have an accounting system that is compliant with the proposed measures. It is expected that the proposals would be finalized following the expiration of the time for a hearing (1 October 2016) and then to be effective as of 1 January 2017. 

KPMG observation

There is a very short period of time until the measures could be effective. Accordingly, entities need to consider what steps are needed now to be ready for application of the new rules.


Read an August 2016 report [PDF 81 KB] prepared by the KPMG member firm in Norway

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