• Deadlines

Deadlines for annual financial statements and tax return for businesses

22 June 2018

Gunhild Kveine , Partner, Audit and assurance |

With the deadlines for preparing annual financial statements and tax returns for businesses for 2017 fast approaching, below we take a look at some important individual deadlines:


Annual financial statements

• Annual financial statements must be approved by a company's Annual General Meeting no later than 30 June 2018.
• The annual financial statements for 2017 must be sent to the Norwegian Register of Company Accounts no later than 31 July 2018. It is not possible to extend the deadline for filing, and documentation must be submitted electronically via the Norwegian Internet portal for public reporting, Altinn.
• The Norwegian Register of Company Accounts will calculate a late filing fee for all financial statements submitted after this deadline (NOK 1,130 per week for the first few weeks, subsequently rising).
• The Register will send reminders to companies that have not submitted annual financial statements a few days before the deadline of 31 July 2018. These are purely reminders and will be sent electronically to the e-mail addresses registered under contact information in Altinn.

Filing of tax returns for businesses 

• The normal deadline for submitting tax returns for businesses for 2017 was 31 May 2018, but accountants, auditors, and employers and the self-employed can apply to extend this deadline until 30 June 2018.
• If tax returns are not submitted by the relevant deadline, the tax authorities will impose a compulsory fine of NOK 565 (half the court fee  ) per day, up to a maximum of NOK 56,500.
• Shortly after the deadline, a provisional notification of the imposition of a compulsory fine will be sent to employers and self-employed who have not submitted their tax returns by the deadline. The notification and provisional notification will be sent in the same letter together with a new deadline for avoiding the imposition of a compulsory fine.

We also point out that compulsory fines are also imposed for failure to submit A-melding returns detailing VAT, tax and national insurance contributions.