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Profit and loss account (impersonal)

Profit and Loss should be completed and submitted with the company tax return if you have a loss account after the realisation of fixed assets etc.

Follow the instructions below to calculate any profits or loss .

1. Click Add profit- or loss account, the symbol at the top right to create new accounts.

   An account is created in a separate tab.

2. Fill in relevant fields.

The first tab shows an overview of created accounts and a summation of all profit and loss accounts.

The tax values of profit and loss accounts are automatically transferred to relevant subjects in business information.

See Items, fields and topics in the new tax return for businesses for more information.

Field explanations

Profit and loss account ID

A numeric id is suggested when you create a new Profit-/loss account.

Municipal

Relevant when there are several industries in several municipalities.

Balance per 31.12. transferred from last year's profit and loss account

Enter the balance as of 31.12 in the previous income year, from the profit and loss account.

+ Total gain on realization and withdrawal

Enter all gains from the realization of fixed assets.

Gain on realization of entire livestock on a farm upon termination of branch of operation

Enter all gains from the realization of entire livestock on a farm upon termination of branch of operation

Incoming value from acquired profit and loss account

Enter any incoming value from acquired profit and loss account.

Value of realized profit and loss account

Enter value of realized profit and loss account

- Total loss on realization and withdrawal

Enter all losses from the realization of fixed assets.

= Basis for the year's income / deduction

Basis for this year's income / deduction recognition is calculated automatically based on registered values.

+ Maximum 20% as income deduction. Any remaining amount less than NOK 15,000 for deductions.

The value is calculated based on registered values. The field can be overridden by hovering over the field and selecting Override amount.

Minimum 20% as income. Any remaining amount less than NOK 15,000 as income

The value is calculated based on registered values. The field can be overridden by hovering over the field and selecting Override amount.

Balance profit and loss account per 31.12 transferred to next year.

The value is calculated based on registered values.

Percentage for this year's income recognition or this year's income deduction

The rate for the current year is displayed.