Onshore wind parks

Onshore wind power can be activated for a client by opening Edit areas under Year-End closing - Information and Tax - Information.

The feature consists of two menu items:

• Onshore wind parks
• Contracts in onshore wind farms

Individual wind farms are registered in the Onshore wind parks menu.

Menu Onshore wind parks

On the Information tab, it is important to register the correct values in the field Installed capacity in MW according to the concession and in the field Number of turbines, as these fields are crucial for determining tax liability for resource rent income.

On the Income tab and the Deductions tab, some fields will be calculated based on registered contracts, while other values are entered manually. The calculations may be possible to override on some values.

The Resource Rent Tax tab shows the sum of income from the Income tab, while the total deductions from resource rent income are the sum from the Deductions tab, plus corporate tax from the Corporate Tax tab.

On the Corporate Tax tab, depreciation deductions must be calculated and registered. These fields are not calculated by the Tax Administration. These calculations are complex. The Tax Administration provides information on these calculations from the webinars held in the fall of 2024, available on Tax administration pages.

Menu Contracts in onshore wind farms

Here, the various contracts for the sale of wind power are registered. Information on income, gains, and losses from these contracts will be transferred to fields on the Income tab under Onshore wind parks. Make sure to specifically check that gains and losses are included. Gains and losses from early termination will be transferred to separate items on the income tab.

Investment cost (direct deduction)

The company can directly deduct the current year’s costs related to onshore wind park from the basis for resource rent tax when the fixed asset is used in resource rent taxable activities.
Information about fixed assets used in resource rent taxable activities must also be provided under the Fixed assets section.

Depreciation of other fixed assets this year

Depreciation of assets that are not directly deducted may be deducted from resource rent income according to special rules.

Information on fixed assets used in resource rent taxable activities must also be provided under the Fixed Assets section. See separate instructions for these fields under Fixed Assets in onshore wind parks.

Gains and Losses on realization of fixed assets

When realizing assets that are to be depreciated in resource rent income, the rules for deductions when determining ordinary income in Chapter 14 of the Tax Act, along with the special rules for wind power plants, apply.

For assets that have been directly deducted from resource rent income, the entry value should be set to zero kroner.

Tax calculation and posting of tax expenses

For onshore power parks, there are specific reference accounts for tax expenses and balance sheet tax:

• 1591 Tax value of carried forward negative resource rent income for onshore wind power
• 1592 Carried forward production fee for onshore wind power
• 2505 Payable resource rent tax for onshore wind power, not yet assessed
• 8305 Resource rent tax for onshore wind power

In the tax calculation, the tax calculation from the Tax Administration will be read, and the following values are used:

• Value from the field Resource Rent Tax in onshoew wind power: Payable tax to be credited to account with reference account 2505 Payable resource rent tax for land-based wind power, not yet assessed.

• Value from the field Carryforward production fee including interest: Future tax due will be debited to the account with reference account 1592 Carryforward production fee for onshore wind power.

• Value from the field Carryforward negative resource rent income including interest: Future tax due will be debited to the account with reference account 1592 Carryforward production fee for onshore wind power, with the field value multiplied by the resource rent tax rate, which for 2024 is 31.2%.

• The offset to changes in the value of the mentioned 3 accounts will be the account with reference account 8305 Resource rent tax for onshore wind power.

The calculated values can be overridden in the tax expense page and will then be posted with the overridden value. Notes will also use the overridden value.

If an account does not exist, the account will be created automatically.

In the note to the public financial statements, the balance from the mentioned accounts will appear in both tax expense and balance sheet tax.