SAF-T Requirement in Norway: New Format by 2025

SAF-T requirement in Norway started by January 2020. A new SAF-T format must be used for the accounting period starting in January 2025.

What is the SAF-T Requirement in Norway?

The SAF-T (Standard Audit File-Tax) Financial format is a standardized method for exchanging accounting data. This file is a template proposed by the OECD to be used by tax authorities in order to receive information from taxpayers. This standard format ensures that accounting information can be easily shared and analyzed by public authorities, auditors, and other stakeholders. The format and content requirements of this template in each country, however, are not as standard as expected.

The SAF-T in Norway applies to businesses with a turnover above NOK 5,000,000 or more than 600 transactions per year. However, if these enterprises do have accounting information that is available digitally, the requirement will apply to them. 

The accounting SAF-T obligation has been in place since January 2020 in Norway. It was initially planned for January 2017, then delayed to 2018 and 2019. Poland, Portugal, France, and Austria have also introduced the accounting SAF-T, so all accounting information must be available in this format when requesting information from taxpayers. Poland extended the SAF-T requirement as a periodic VAT reporting obligation.

The content of this file implies that it will be required only from established entities, as information such as General ledger, Subsidiary ledger and Cash register data must be included in the file. However, no confirmation has been issued yet about the requirement for non-established, VAT registered companies. Norwegian tax authorities published a set of FAQ in their website.

SAF-T: New Version 1.30

A significant update to the SAF-T Financial format, version 1.30, has been announced and will be mandatory from January 1, 2025. Enterprises can, however, start using the new format immediately if they prefer. Due to extensive changes, version 1.30 is not fully backward compatible. Previous versions, such as 1.20, will remain valid for financial periods up to and including 2024.

The new file includes the following changes like the a new balance account structure for customers and suppliers, new method for presenting VAT in transactions, some voluntary elements become mandatory, three new fields, and certain technical adjustments, such as data types and character limits for some elements.

In conclusion, businesses are only required to submit the SAF-T file to the Tax Administration during an audit. The standardized format simplifies this process, ensuring that records are readily accessible and easily shared when necessary. The updated SAF-T Financial format, effective January 1, 2025, marks a significant step towards enhancing the efficiency and accuracy of accounting data management in Norway. Enterprises are encouraged to familiarize themselves with the new requirements and transition to version 1.30 to ensure compliance and benefit from the improved functionality and user-friendliness of the updated standard. Have a look at the official information about Norwegian accounting SAF-T.

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