The Norwegian Ministry of Finance has amended 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 comes into force the first period with financial reporting starting January 1, 2020 or later. Businesses with less than NOK 5 million in turnover are exempt from this requirement. However, if these businesses do have bookkeeping information electronically available, the requirement will apply to them too. The enterprises with a bookkeeping obligation are only obliged to submit accounting information in the Standard Audit File for Tax (SAF-T) format when in relation to a potential control, and upon request by The Tax Administration.
Effective date: January 1, 2020