Ongoing Operation

VAT must be reported periodically six times a year. The reporting to the Tax Authorities will be made electronically through the portal Altinn.no. The payment of VAT due needs to take place at scheduled times and transferred to a fixed bank account by using a specific identification number (Norwegian: KID). The Tax Authorities, on the other hand, will transfer any tax benefits to the client’s Norwegian bank account, should the client be entitled to such a refund.
 
If the enterprise’s turnover is less than NOK 1.000.000/year, it is possible to apply for yearly VAT reporting.
 
The requirement for reporting, documentation and storage of information is regulated by the Bookkeeping Act and the VAT Act. VIEW Tax is subject to authorization by the Accountants Act. 
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