Purchases worth more than NOK 15,000

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Depreciation

Depreciation means that you are not entitled to claim a deduction for the entire expense recognised in the accounts in the year in which you make a purchase. The main rule is that if the cost exceeds NOK 15,000 and the anticipated remaining lifetime is at least three years, a deduction must be entered in the balance for the fixed asset.

If you have a fixed asset with a cost price exceeding NOK 15,000 and an anticipated lifetime in excess of three years, you must submit form RF-1084 Avskrivning (Depreciation - in Norwegian only) as an attachment to the tax return. In this form, you calculate the year’s depreciation (deduction), which in turn must be entered in income statement 1 (RF-1175). This form is included in the Business Tax Return. Find out more about depreciation in the Tax ABC.

The condition for deducting the cost is that the fixed asset is becoming worn and/or is ageing. See the Tax ABC concerning fixed assets which are depreciated.

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