Starting from January 2025, Norwegian businesses are mandated to produce an electronic SAF-T file for reporting their accounting details, which can be requested by the Norwegian tax authority, “Skatteetaten”. The SAF-T format enables exporting accounting data in XML form, intending to streamline tax compliance, enhance control procedures, and simplify external audits. 💼📊
Key Points:
- Businesses with a turnover of less than NOK 5 million are exempt from the obligation. However, digital accounting records mandate compliance.
- SAF-T Financial has been revised and updated. The new form (version name 1.30) is mandatory from 01.01.2025 but can be used immediately if desired. The old form (version 1.20) can still be used for previous years (fiscal year 2024 and earlier). 🔄
Norway’s SAF-T System:
- Consists of two parts: Financial (covering General Ledger, Customer and Supplier master data, Tax master data) and Cash Register (involving Locations, Cash register, Cash transactions).
- Businesses can submit data via an API link to ERPs or through a new portal called “Mine MVA-Meldinger”. 📁
