Norway confirms mandatory SAF-T Jan 2020

Norway is on track to become the latest country to impose mandatory Standard Audit File for Tax (SAF-T) for businesses from 1 January 2019. Norwegian SAF-T will only be required on demand from the tax authorities, typically immediately before a tax audit. It has already been in place on a voluntary basis.

The first version of SAF-T Standard format Financial data (SAF-T Financial) contains account specifications (general ledger) and supplier and customer specifications (subsidiary ledger). Cash register data (SAF-T Cash Register) is also required.

Businesses below NOK5 million, and not storing their data electronically, will be exempted from the requirement.

Norway has adopted the OECD-developed framework for SAF-T, originally published in 2005. This provides standard schemas for reporting transaction-level details to tax authorities.