All companies that have assets or receive income in Norway must submit an annual tax return. This annual tax return must include, an extract of accounts related to the company’s Norwegian turnover/activity.
Moving to or from Norway triggers many tax questions. The most common questions are related to Norwegian resident criteria and tax return obligations.
Anyone who receives income from work in Norway or on the Norwegian continental shelf, is required to file a Norwegian tax return.
From 1 January 2021, Norway's relationship with the UK is no longer regulated by the EEA Agreement. This can affect the management of Norwegian companies if the management and/or board members live in the UK or are UK citizens.
Can you transfer personal data to the UK after Brexit?
From 2019, a new and simplified tax scheme is available for foreign workers in Norway. The scheme is called PAYE (Pay As You Earn). Most foreign workers will fall under this scheme the first year they work in Norway.
Do you have undeclared assets or income abroad? Now is the right time to apply for a voluntary correction.
Work assignments across borders are common, but it can be a problem to recruit personnel with the right qualifications for positions abroad. One reason may be the uncertainty related to tax rates in a foreign country. Tax issues could cause doubts for employees offered international assignments.
Total investments in Norway are expected to increase in 2020. This means great opportunities for companies in industries such as oil and gas and construction.
To distinguish between hiring-out of labour and a construction and assembly contract is important to prevent unforeseen surprises from the tax office.