Avoid unnecessary fees
Running a business involves the responsibility of submitting various reports to the authorities within specific deadlines. Failure to meet these deadlines can be costly.
Comply with reporting obligations
When running your own business in Norway, it is crucial to comply with all reporting obligations.
Even if the business has been inactive, you must submit information to the authorities within the deadlines. Failure to do so may result in unnecessary expenses in the form of substantial fees, for which you can be held personally liable.
Good routines are essential
To avoid unnecessary fees, it is important to establish good routines for financial management and reporting. It is your responsibility to ensure that all reporting obligations are met within the deadlines.
Use calendars with reminders for important deadlines or consider investing in accounting software that alerts you when a reporting deadline is approaching. You can view some of the most important deadlines for your business by logging into "My Page" on the Tax Administration's website or checking "My Reporting Obligations" on the Brønnøysund Register Centre's website.
The Tax Administration - "My Page"
The Brønnøysund Register Centre - "My Reporting Obligations" (In Norwegian only)
An extension for submitting the tax return to the Tax Administration
It is possible to apply to the Tax Administration for a one-month extension for submitting the tax return for businesses. To be granted an extension, the application must be submitted before the original deadline of 31 May.
The Tax Administration – apply for an extended submission deadline
The deadline for submitting annual accounts to the Brønnøysund Register Centre must be adhered to
Businesses subject to accounting obligations cannot apply for an extension to submit the annual accounts to the Register of Company Accounts. Even if a company has received an extended deadline for submitting the tax return to the Tax Administration, the annual accounts must still be submitted by the deadline to the Brønnøysund Register Centre. Even if there has been no operation or activity during the financial year, the annual accounts must still be submitted by the 31 July deadline.
Fees for late or incorrect reporting to the Tax Administration
The Tax Administration may impose a enforcement fine (penalty or fee) if your business fails to meet deadlines for submitting reports such as the tax return, VAT return, or a-melding. The enforcement fine is a daily penalty that accrues until the required information is provided to the Tax Administration. The amount of the fine varies. You can appeal the enforcement fine decision, but you are still required to pay while the appeal is being processed.
The Tax Administration on enforcement fines
If incorrect or incomplete information is provided in the tax return for the business, additional tax penalties may be imposed.
The Tax Administration can also impose violation fees. For instance, such a fee may apply if, as an employer in certain industries, you fail to provide accurate personnel lists during an inspection.
The Tax Administration on deadlines, fees, and additional taxes
Late filing penalty from the Register of Annual Accounts
All entities required to submit their annual accounts must send a complete set of accounts to the Register of Company Accounts by 31 July. This deadline cannot be extended. If your business fails to submit the statements by the deadline, a late filing penalty will automatically be imposed, and it cannot be appealed. The late filing penalty can reach up to NOK 66,404 (in 2024) if a complete set of financial statements is not submitted.
The Brønnøysund Register Centre on late filing penalty
You may be held personally liable for paying the fee if the business does not pay. If a complete set of annual accounts is not submitted within six months after the deadline, the company may face compulsory dissolution.
