Course for those who have started, or are about to start, a private limited company

Here you’ll find films from webinars about relevant topics if you're just starting out or you're about to establish a private limited company. If you’ve just started your business, we recommend that you view the films in the order they’re presented.

The presenters speak Norwegian in these films, but English subtitles are available.

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Introduction to the course

This course is meant for you if you’ve just started or are thinking about starting a private limited company. Here you’ll find an overview of the topics in the course. You’ll also find relevant websites and information about the Tax Administration on social media as well as contact information.

The private limited company as a legal structure

This is an introduction to the characteristics of a private limited company, requirements for share capital, and roles in a private limited company.

Relevant forms and services (Altinn)

Accounting, bookkeeping, and auditing

Here you’ll learn why and when the company must keep accounts. You’ll also find out what accounting is and what the company must register. In addition, you’ll get examples on how to enter invoices.

Accounting, bookkeeping, and auditing requirements (Altinn)
Staff register

Filing, safeguarding, and auditing

Here you’ll learn how to store and safeguard your accounts and vouchers. In addition, you’ll get information about annual accounts and where to send them. Finally, you’ll receive information about auditing and the audit obligation.

Accounting, bookkeeping, and auditing requirements (Altinn)
Annual accounts
Submission of annual accounts (The Brønnøysund Register Centre)

Documentation of income

Here we'll explain the requirements for an invoice with an example. We’ll also explain what's considered a cash sale, the requirement for a cash register system, and exceptions from this requirement.

Cash register system

Deduction for expenses

Conditions for deductions

Here we'll explain the conditions for claiming deductions for expenses, the consequences of payment in cash, and the calculation of cost of goods.

Topics and deductions for self-employed persons

Depreciation of assets

Here you’ll find out about declining-balance depreciation, which assets (fixed assets) you can depreciate, and examples of depreciations.

Buying assets for the business (in Norwegian only)
Depreciation rates

Examples of costs

Here are examples of expenses the business can claim a deduction for: representation, renting business premises, welfare measures, workwear, education while in employment, and gift and promotion items.

Topics and deductions for self-employed persons

Advance tax

Here we'll explain advance tax in a private limited company – when the company must pay it and how.

Advance tax for private limited companies (Ltd)

Reporting to the Tax Administration

Here we'll show the information that a private limited company must report to the Tax Administration:

the a-melding if the company has employees
a shareholder register statement
the tax return

Finally, we'll show a certificate for tax and duties, which can be useful for the company.

The a-melding
The shareholder register statement (in Norwegian only)
Tax return for companies
Value added tax (VAT)
Certificate with information about tax and duties

The company as an employer

Here we’ll explain the company’s responsibility as an employer and the rules and regulations for the payment of salary and other remunerations/benefits. In addition, we’ll explain the rules regarding electronic communication (EC services), benefits in connection with the private use of a company car, remuneration in connection with the use of a private car for business purposes, and expense allowances.

Employer

Taxable transactions between a company and its shareholders

Here we'll explain the shareholder's model and the rules and regulations regarding values that are transferred between the company and its shareholders. In particular, we’ll explain the private use of company assets and loans to or from the company.

Shares and securities
Salary, loans and dividends

Value added tax (VAT)

Introduction to value added tax (VAT)

Here we'll explain what value added tax is, VAT liability, and the meaning of output and input VAT. We'll also talk about which goods and services are exempt from value added tax or zero-rated and show the different rates for VAT.

Value added tax (VAT)

Registration and reporting

Here you’ll find out when the company must be registered in the VAT Register, when you must include VAT in a sales invoice, and about advance registration in the VAT Register. We’ll also give examples of how you enter VAT in your accounts and carry out a VAT settlement.

VAT rules for different cases of sale and purchase

Here, we show an example of the combination of sales exempt from VAT and vatable sales. You’ll also get information about retrospective VAT refunds, import VAT, deductions for input VAT, partial deductions for VAT, and limitation of the right to deductions.

Value added tax (VAT)
Value added tax (VAT) on services the enterprise has purchased from other countries

Submission of the VAT return and deletion from the VAT Register

Here we'll talk about the submission of the VAT return, payment deadlines, and the consequences of late submission and late payment. Finally, you’ll get additional information about deletion from the VAT Register and how to terminate the business in the Brønnøysund Register Centre via Altinn.

View, change and submit the VAT return
How to register the company and submit VAT returns (film)
Enforcement fines in the case of non-submission
Closing your business