Non-Norwegian enterprises doing business in Norway will find that the basic Norwegian compliance obligations are rather burdensome. Failure to comply commonly may results in severe sanctions. As always, it is better to do the right things from the beginning than to tidy up afterwards.
Working your way through a foreign tax system can be difficult and it triggers many questions. The most common questions are related to tax liability and level of taxation.
To pay Norwegian tax every year of almost 1% of the global net wealth – including on the home, cars, shares, bank savings, etc. situated outside Norway – may come as a surprise for many foreigners working in Norway.
Topics: Tax return in Norway
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.
The Norwegian Tax Administration performs identity controls of foreign employees in Norway. This means that all foreigners working onshore in Norway are required to meet at a tax office to verify their identity.
Do you have undeclared assets or income abroad? Now is the right time to apply for a voluntary correction.
As a main rule, all businesses operating in Norway must file a corporate tax return by 31 May. Due to the outbreak of the Coronavirus, the deadline is postponed for three months this year, from 31 May to 31 August.
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.
Everyone who has capital or income from work performed in Norway must submit a tax return. The due date for filing your tax return 2019 is 30 April 2020.