Impersonal non-taxable companies

Impersonal businesses that are not liable for tax and therefore do not need to complete and submit tax return with business specification and supporting documentation, but that still may need to prepare and submit annual report/public accounts with notes can use a simplified user interface.

Companies that this relates to can be, for example:

• Housing cooperatives
• Condominium flat owner
• Association/Club/Organisations
• Certain companies are exempt from tax liability under specific provisions in the Tax Act

In Settings - Company information the Tax rate can be changes to Not taxable (0%). Period & Year will then get a simplified user interface where all items related to tax values and calculations are hidden.

This means that the following main elements are removed on the specific company:

In Tax Information:

• Various information
• Area selector (all areas except the Fixed Assets Register are removed)
• Tax calculation
• Financial statements
• Wealth
• Tax return

In Checks:

• Tax return
• Business specification
• Reconciliation of fixed assets
• Reconciliation of equity
• Taxes and allocations

In Reports:

• The entire section for tax returns and business specifications
• Account-specific financial statements (business specification)
• Temporary differences
• Tax calculation for limited liability companies
• From book value to taxable result
• Wealth
• Checklist for tax information

In Innsending:

• Skattemelding

The Fixed Assets Register can only be used for accounting treatment of assets when this setting is activated. It is not possible to link objects in the fixed assets register to forms for tax depreciation.