Informational newsletter | November 2022

We are approaching a new year and it is wise to start preparing now. Something you can start now is to prepare the shareholder report that must be submitted to the Tax Agency each year. We need information from you about whether in 2022 it has been:

• made changes in shareholder composition

• paid additional dividend

• made capital changes 

• the company has been involved in a merger/fission

As of 31/12-21, the company will have a claim on shareholders or other related parties which will be treated as a tax dividend at the hands of the shareholders

If changes have been made to any of these points, it is important that you report this to your contact person during 2022. We will then have time to update this by 31 January.

Contact us if you are unsure about any of these conditions; especially the last point about withdrawals/loans

The government put forward the proposal to increase the tax on share dividends and gains from the sale of shares by 2 percentage points (35.2 to 37.8 per cent). This change will apply from launch (6 October 2022), according to the national budget. The proposal also applies to distributions from ANS/DA and realization of shares in such companies.

A side clause in the 2023 state budget announces that there will be nothing of the proposal for reporting sales and purchase transactions. It appears in Prop. 1 S (2022 - 2023) p. 91:

"In Prop. 1 S (2018–2019) it is stated that, in parallel with the system development in the Memo, possible rule changes are being assessed that could make the administration of value added tax more efficient and further increase compliance. Such rules will possibly only be relevant in the somewhat longer term, and the it is not relevant to make system adjustments for such rules in the Memo project. The cost framework for the project has been reduced by NOK 85 million as a result of the fact that it has now been decided not to develop a solution for reporting sales and purchase notifications."

This proposal was first put forward last autumn. For business, this meant a formidable reporting obligation. The background for the sale was to reduce crime and facilitate the control work of the Tax Agency. Whether the proposal can be introduced at a later date is difficult to say, but the Ministry of Finance has chosen to stop the project for now.