Norwegian business tax return – deliver on time to avoid filing penalties!
On the April 4th the tax return for 2017 was made available for all businesses, and the deadline for filing the tax return is May 31st.
Previously, there was little consequence if this deadline was not met, at least not if the final tax return was delivered before the tax office could perform a discretionary assessment. After a change in the new tax administration act, the tax office now has some effective tools in their tool box, including late filing penalties.
If the tax return is not delivered with the deadline, the tax office can impose a daily penalty for each day the tax return is not delivered, up to a maximum of NOK 56 500. It is therefore important to apply for an extension of the deadline if there is a risk that the tax return will not be finalized before the filing deadline.
Businesses can apply for a 30 days extension, but no extension will be given past June 30th.
More information about doing business in Norway, download free guide here.
Contact: Lawyer Alf Bakke-Løyning