NO Norwegen

Bookkeeping systems

Proposed regulation related to bookkeeping and reproduction of electronically recorded information in standardised form

Introduction of the standard format - SAF-T Financial

The Ministry of Finance has proposed to amend the Bookkeeping Regulation so the requirement to provide accounting data for bookkeepers who have the bookkeeping available electronically must disclose accounting data in a given standard format. The new section 7-8 is proposed to come into force the first period with financial reporting starting 1 January 2020 or later. Until then the use of the SAF-T scheme will be voluntary.

SAF-T Financial is a standard format used in the exchange of accounting data. SAF-T, or Standard Audit File-Tax, is the result of a joint development collaboration between the business community, the accounting sector and the Norwegian Tax Administration, based on a recommendation by the OECD.

Businesses with less than NOK 5 million in turnover will be exempt from this requirement. However, if these businesses do have bookkeeping information electronically available, the requirement will apply.

The enterprises with a bookkeeping obligation are only obliged to submit accounting information on SAF-T format in relation to a potential control, and upon request by The Tax Administration

System suppliers must adjust their accounting systems so they support the new standard for customers who wish to use the accounting system to produce and submit their accounting information on SAF-T format.

Information about SAF-T Financial can be found at Skatteetaten.no