Application of forward losses

Go to Tax Calculation – Application of carryforward loss to manage the company’s losses carried forward. The system automatically calculates how previous years’ losses are offset against this year’s profit, or how this year’s loss is added to the balance for future years.

Automatic Import of pre-filled data

When the Norwegian Tax Administration (Skatteetaten) makes the pre-filled tax return available (normally during March), the program will automatically retrieve these values in the background.

The program then provides two options to ensure data accuracy:

• Update: You can choose to update the values in the program directly with the figures from the Tax Administration’s pre-filled data.
• Validation: You can compare and verify the loss carryforward amount from last year against the pre-filled data. Here, you can confirm that a changed value is correct – this is particularly relevant in cases such as mergers or other corporate changes affecting the loss position.

Field Explanations

Unused loss carryforward from previous years:

The amount is automatically transferred from last year’s entry for “loss carried forward to later years.” This field is cross-checked against the pre-filled values from the Tax Administration.

Compounding and debt forgiveness achieved this year:

Enter the amount of debt that has been forgiven during the current year.

Share of compounding and debt forgiveness offset against loss carryforward:

Enter the portion of the forgiven debt that shall reduce the loss carryforward from previous years, in accordance with the provisions of the Tax Act.

Complete and save

Once the values have been verified and any discrepancies against the pre-filled data have been handled, approve by clicking the symbol in the Completed column. The value is then automatically transferred to the total tax calculation and the tax return itself.