Norway SAF-T Jan 2018
Norway is on course to introduce Standard Audit File for Tax (SAF-T) reporting obligations from 1 January 2018. The detailed, electronic transaction reporting requirement, adopted across many European countries, will provide the tax authorities with details of VAT transactions for audit purposes. Initially, companies will only be required to present SAF-T submissions to the tax authorities on-demand.
Norwegian SAF-T requirements will initially include: general ledger; accounts receivable; and accounts payable. Data will have to be provided to the tax authorities in XML format, extracted from the company’s accounting or ERP system. It can then be filed through the public tax portal, Altinn.
All taxpayers, including non-resident VAT registered businesses, above the reporting threshold will be required to be able to prepare and submit SAF-T files. Initially, there will be a SAF-T sales threshold of NOK 5m per annum – approximately €550k per annum.
SAF-T was originally designed by the OECD as an electronic protocol for sharing accounting and tax data between companies and the tax payer. Norway is planning to launch the second version, first piloted in 2010. A voluntary reporting version was introduced in Norway in January 2017.
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