Tax calculation /periodandyear/help/taxation/impersonal/tax-calculation section 2024-09-12T19:33:52+02:00 # Tax calculation In **Year-end closing - Information and tax - Tax calculation**, you calculate **Business Income**, **Taxable result** and **Accounting result after tax**. In the menu to the left calculations from **Accounting result before tax** to **Accounting result after tax** are shown. You can click on each line in the calculation and make adjustments. You approve the calculation lines by clicking on the status symbol in the column **Done**. When the status is set to **Done**, the symbol changes colour to green and you can no longer make changes in the view to the right. If you have approved a section in the calculation view and later there are changes in pre-populated values, the status symbol will change colour from green to orange. Go through and check the updated values and approve again. The grey fields are populated by values generated by the system on reference account level. You can change the reference account for a client account in **Maintenance - Client chart of accounts**. Grey fields are fields with system generated values. To display which accounts that are mapped to a field, click on the menu icon that appears when you hold the cursor over a field and select **Show accounts**. If there are mapped accounts with no balances, you can display these as well by marking the checkbox **Include mapped accounts without balances** at the top of the dialogue. You can override a system generated value by clicking on the menu icon. Select **Override amount**. Overridden fields changes colour from grey to yellow. In order to set back the value, click on the field and the menu-symbol once more and select **Reset amount**. White fields are for manual input of values. When a field in the program has a corresponding field in a tax form, the amount you enter will be transferred to this form. The tax forms are found in **Year-end closing - Tax forms**. The calculations starts with **Accounting result before tax** in the menu to the left. Click on each of the posts below to make adjustments according to tax regulations for **Additional business income**, **Deduction business income** and **Changes in temporary differences**. In the view to the right, you can then check and adjust the different values. Approve the values by clicking on the status symbol in the column Done. The adjustments affect the **Total business income**, which corresponds to field 0999 in tax form RF-1167, and is transferred as field 201/222 in tax form RF-1028. Under **Total business income** you can make adjustments according to tax regulations for **Other taxable income and deductions**, **Application of forward losses** and **Other adjustments**. Click on each of these lines to check and adjust the different values in the view to the right. Approve the values by clicking on the status symbol in column **Done**. The adjustments affect the **Total taxable result**, which corresponds to post 260 in tax form RF-1028. The **Accounting result after tax** is calculated by subtracting the tax expense from **Accounting result before tax**. Click on the line **Tax expense** to check the calculation. Approve the calculation by clicking on the status symbol in the column **Done**. Go to **Allocation of result** to allocate the **Accounting result after tax**. Approve the allocation by clicking on the status symbol in the column **Done**. You can create closing entries manually by clicking on the scale symbol in the upper right or by navigating to **Year-end closing - Closing entries**. Select **Create**to manually create a closing entry. In **Closing entries**, you can see that the system has generated closing entries relating to changes in temporary differences, changes to equity and payable tax. These closing entries are updated when changes are made, unless the period has been locked. You can lock and unlock periods on the **Start page**. To be able to edit **Year-end closing - Information and tax**, the last ordinary period must be locked. For example, if the financial year is 01.01 - 31.12, the period December must be locked to enable editing in **Year-end closing**. ## Checklist The checklist, which is located in the side panel, is accessed by clicking on the icon in the upper right and helps you to document the work you have done. In the side panel, the task list for your selection in the left hand panel is shown. To add a comment to a task, click on the row or on the comment icon in the **Actions** column and enter your comment. To mark a task as done, click on the check mark in the **Actions** column. Click on the check mark again to undo this action. A task can be marked as **N/A**, which means that it is not applicable. You can modify the checklist to show only the tasks you want. Click on **Edit checklist** in the bottom of the side panel to do this. In this view, you can choose which tasks are active. You can add your own tasks to the checklist. This is also done in the **Edit checklist** view. The tasks you add yourself can be activated and deactivated in the same way as the standard tasks, and can also be deleted. The tasks that you have added yourself have a blue icon in the task list so that they can be easily identified. The checklist is available for print in **Year-end closing - Reports**. Choose which parts you want to include in your report in the left hand panel and select **Generate report - Download PDF**. Additional business income /periodandyear/help/taxation/impersonal/tax-calculation/additional-business-income page 2025-03-21T16:03:40+01:00 # Additional business income Here you can specify costs from the income statement that are to be reversed and other items. Costs in the income statement relating to shares, units and other securities are reversed to specified fields, whereas taxable amounts for these items - where applicable - are re-entered in separate fields.

The individual available fields vary by company type. Only the fields that have numbers will be displayed. Data is transferred from other menus where data has been registered.

Click **Show all** to see all fields, including fields with a 0 value. ## Field explanations The following items are filled in on the basis of balances on relevant accounts: Non-deductible costs (representation, dues, gifts, other) : . Positive tax expense (Only relevant for impersonal companies) : . Interest expense on determined tax (not relevant for companies with participant determination) : . Accounting write-down of shares and other financial instruments this year : . Accounting loss on realization of shares and other financial instruments : . Accounting deficit on share in Norwegian companies with participant determination : . Accounting deficit on shares in foreign companies with participant determination : . Accounting loss upon realization of share in Norwegian companies with participant determination : . Accounting loss upon realization of shares in foreign companies with participant determination : . Loss share from investment in subsidiaries, associated companies and joint ventures (not relevant for sole proprietorships) : . Reversal of impairment of financial instruments measured at fair value : . Interest expenses recorded in the income statement for ENK (only relevant for sole proprietorships) : . The following items are filled in on the basis of registrations of shares in joint ventures with participant determination (not relevant for sole proprietorships, where such income is entered directly in the tax return): Share of taxable profit in Norwegian companies with participant determination : . Share of taxable profit in foreign companies with participant determination : . Taxable gain on realization of shares in Norwegian companies with participant determination : . Taxable gain on realization of shares in foreign companies with participant determination : . The following items are filled in on the basis of registrations under financial instruments and/or 3% income recognition (not relevant for sole proprietorships, where such income is entered directly in the tax return): Taxable gain on the sale of shares and other financial instruments : Taxable dividends on shares, etc. including surcharges pursuant to Section 16-30 (5) of the Tax Act : This field should be used if taxable gain from withdrawal from Norwegian tax jurisdiction has been made. The amount is retrieved from RF-1109. Business assessed as partnerships shall only fill in this field if it is marked in field 150 in RF-1109. This value is automatically transferred to RF-1167, field 0675. 3 percent of net tax-free income according to the exemption method and 3 percent of distributions from companies with participant determination : . The following records require manual registration: Reimbursed debt interest pursuant to Tax Act §§ 2-39 (2) and 6-91 : . Taxable gain on withdrawals from Norwegian tax territory : . Income supplement for conversion difference from accounting currency to Norwegian kroner : . Supplement for interest costs for which deductions are not required (not relevant for sole proprietorships) : . • Correction for proposed dividend from subsidiary/associate using the equity method (not relevant for sole proprietorships) : . • Other income supplements : . • Correction for proposed dividend from subsidiary/associate using the equity method (not relevant for sole proprietorships) : . The following items are only relevant for sole proprietorships, and are calculated automatically for these: Income supplement for private use of a company car : . The calculated entries can be overridden. **Total additional business income** is transferred to the calculation on left. Approve the values by clicking on the status symbol in the column **Done**. The values are automatically transferred to the business specification. Deduction business income /periodandyear/help/taxation/impersonal/tax-calculation/deduction-business-income page 2025-03-25T07:49:38+01:00 # Deduction business income Here you can specify income from the income statement that are to be reversed and other items. Recorded income from shares, units and other securities are reversed to specified fields, whereas taxable amounts for these items - where applicable - are re-entered in separate fields.

The individual available fields vary by company type. Only the fields that have numbers will be displayed. Data is transferred from other menus where data has been registered.

Click **Show all** to see all fields, including fields with a 0 value. ## Field explanations The following items are filled in on the basis of balances on relevant accounts: Reversal of dividends recognized as income : . Group contribution recognized in profit or loss : . Negative tax expense : . Interest income on refunded tax : . Share of profit from investment in subsidiaries, associates and joint ventures : . Accounting gain on the sale of shares and other financial instruments : . Regnskapsmessig gevinst ved realisasjon av aksjer og andre finansielle instrumenter : . Accounting gain on the sale of shares and other financial instruments : . Accounting loss upon realization of shares in foreign companies with participant determination : . Accounting gain on realization of share in Norwegian company with participant determination : . Accounting gain on realization of share in Norwegian company with participant determination : . Issuance and establishment costs (individual taxpayers only) : . Return on life insurance recognized in the income statement (sole proprietorships only)ersonforetak) : . Interest income recorded in the income statement for ENK (sole proprietorships only) : . Own sick pay recognized as income in the income statement (sole proprietorships only) : . The following items are filled in on the basis of registrations of shares in joint ventures with participant determination (not relevant for sole proprietorships, where such income is entered directly in the tax return): Share of deductible losses in Norwegian companies with participant determination : . Share of deductible losses in foreign companies with participant determination : . Deductible loss upon realization of shares in Norwegian companies with participant determination : . Deductible loss upon realization of shares in foreign companies with participant determination : . The following items are filled in on the basis of registrations under financial instruments and/or 3% income recognition (not relevant for sole proprietorships, where such income is entered directly in the tax return): Deductible loss on sale of shares and other financial instruments : . The following records require manual registration: Deductible loss on withdrawals from Norwegian tax territory : . Income deduction for translation difference from accounting currency to Norwegian kroner : . Other income deductions : . The following records are filled in on the basis of registrations in relevant functions: Tax recovery of R&D deductions : . The calculated entries can be overridden. **Total deduction business income** is transferred to the calculation on the left hand side. Approve the values by clicking on the status symbol in the column **Done**. Changes in temporary differences /periodandyear/help/taxation/impersonal/tax-calculation/changes-in-temporary-differences page 2025-03-21T16:03:40+01:00 # Changes in temporary differences Go to **Tax calculation - Changes in temporary differences** to calculate all temporary differences, change in deferred tax and deferred tax / tax assets in the balance sheet.

Do the following steps:

  1. First, you calculate all temporary differences between accounting and taxable values ​​01.01 and 31.12.
  2. Furthermore, you deduct any temporary differences that should not be included in the calculation basis for deferred tax / tax assets (for example, goodwill arising from merger / demerger).
  3. Consider offsetting tax-increasing and tax-reducing temporary differences and whether there are temporary differences that should not be offset.
  4. Calculate net deferred tax / tax assets in the balance sheet.
  5. Assess if deferred tax assets should be recognized in the balance sheet.
  6. Changes in temporary differences affecting tax payable is transferred to the calculation of total business income on the left hand side.
Under the tab **Differences**, the system has calculated **Tax-increasing** and **Tax-reducing** temporary differences based on values ​​in the **Accounting** and **Taxable columns**. Select **Show All** to show all lines. The system generates taxable value equal to the accounting value for fields that may have a taxable value. You can override fields by hovering over the value in the field and clicking on the symbol that appears. Select **Override**. Some lines require manual input and this is indicated by the lines being blue and clickable. When you click on a blue line, it opens its own view that shows tax calculation of this particular item, with white fields for entering values. For further information, see Field explanations. Select the blue arrow next to a line to see which client accounts in the income statement which are linked to each line as well as the specified taxable value on the relevant lines. **Total temporary differences affecting tax payable** summarizes the lines on the tab **Differences, tax payable** and is displayed in **Changes in temporary differences** in the left menu. This corresponds to the previous fields in RF-1217, up until field 100. Click on **Show all** to see rows without amount. **Differences, deferred tax** summarizes the lines from the tab **Differences, deferred tax** This corresponds to field the previous fields 111 to field 165 in RF-1217. Click on **Show all** to see rows without amount **Total temporary differences** from the two tabs **Differences, tax payable** and **Differences, deferred tax** is transferred and summarized on the tab **Deferred tax/tax assets** . In this tab, offsetting of temporary differences is made. **Basis for calculation of deferred tax** is shown, as well as **Deferred tax 01.01** and **Deferred tax assets 31.12**. The deferred tax / tax assets is calculated by multiplying the sum of the differences that are included in the calculation basis with the applicable tax rate. Full balancing of tax-increasing and tax-deductible temporary differences is most common. There are some limited exceptions. If the tax-deductible temporary differences are reversed at a later date than the tax-increasing differences, it must be assessed whether the tax-deductible differences must be excluded from the basis of calculation. In particular, you should consider whether offsetting can be done when there are tax-deductible temporary differences related to construction, long-term receivables, and if you have a adjustment limitation of interest deductibility between related. **Deductible differences that shall not be offset** are a manual input field in the tab **Deferred tax/tax assets**. The option whether or not to recognize the deferred tax assets in the balance sheet per 31.12, is made in the tab **Deferred tax/tax assets**. The recognition of deferred tax assets can only be done if it is probable that the tax assets can be utilized by the company. Small companies can choose not to recognize deferred tax assets. If **Not balanced** is selected under **Deferred tax/tax assets 31.12**, then the value in**Basis for calculation of deferred tax** is transferred to the line **Deductible differences that can not be offset**. In the tab **Overview temporary differences**, a summary of temporary differences is displayed as of 01.01 and 31.12, and the changes. **Calculated deferred tax/tax assets** is also shown. This overview is shown as part of the note **Tax**under **Year-end closing - Annual report**. **Total temporary differences affecting tax payable** are calculated 01.01 and 31.12, and appear as subsum amounts under the tab **Differences**. **Change in temporary differences that affect tax payable** is calculated by the system and transferred to **Changes in temporary differences** in the calculation view on the left hand side. This value corresponds to field 100 in RF-1217. The closing entry **Changes in deferred tax / deferred tax assets** is updated automatically. ## Field explanations Fixed assets (tangible and intangible) : Click on the line **Fixed and Intangible assets** to update tax values. You will then be navigated to **Information - Tax-related depreciations**. :

Please note that the tax value on 31.12. for operating assets must be specified in the form of tax objects in the function for tax depreciation, such an overriding of the field will give an error message when validating the business specification under Controls.

Long term receivables and liabilities in foreign currency : The accounting value of long-term receivables and liabilities in foreign currency is the exchange rate on balance date. The taxable value is generally the same as the accounting value. Companies with long-term receivables or liabilities in foreign currency must keep a revaluation account, and temporary differences may arise between the accounting and the tax values associated therewith. Projects in progress : Small companies that recognize long-term production contracts as income when the contract is completed, should record the capitalized cost of production as the accounting value. Companies using current settlement shall record accrued contract revenue as the accounting value. Taxable income from work contracts under progress shall not be recognized before the work is completed. Until they are completed, production contracts should be valued according to the rules for making after order, see § 14-5 (2) a and b of the tax law. Inventories / Biological assets (IFRS) : Click on the blue link Inventory/biological assets to calculate the tax value of goods. Receivables and debt according to the receivable model : . Accounts receivable : You can calculate the tax value by clicking on the **Account receivables** line. You will then be navigated to **Information - Account receivables**. Other receivables (including long-term) : The accounting value of other short- or long-term receivables is the value after depreciation of unrealized losses. The tax value will be the denominated value. Accounting value of leasing object in the balance sheet : If a lease agreement is considered to be financial in accordance with the accounting rules (recorded), but taxable as a lease (operating lease), temporary differences arise on the asset side and on the debt side. Accounting value of leasing debt in the balance sheet : If a lease agreement is considered to be financial in accordance with the accounting rules (recognized in the balance sheet), but taxable as a lease (operating lease), temporary differences arise on the asset side and on the debt side. Balance on profit and loss account : You can update your profit and loss account balance by clicking on the line **Profit and loss account**. You will then be navigated to **Information - Profit-/loss account**. Conditional tax-free gains : . Unearned income : Accounting provisions must be reversed in its entirety as it is not possible to make a corresponding taxable provision. Accounting provisions for liabilities : Accounting provisions must be reversed in its entirety as it is not possible to make a corresponding taxable offset. This value is automatically transferred to RF-1217, field 54. Accounting provisions for losses on contracts : Accounting provisions must be reversed in its entirety as it is not possible to make a corresponding taxable offset. This value is automatically transferred to RF-1217, field 70. Net pension liabilities entered in the balance sheet : . Net pension assets : . Taxable provisions for pension premium etc. : . Obligations taken upon acquisition of business : . Other differences : Specify all other temporary differences between accounting and tax values ​​/ results that are not handled in other fields.. Shares and other financial institutions, not covered by the exemption method. : In this field, shares and other financial instruments, which are not covered by the exemption method, are specified. Income allocated dividend from subsidiaries and associated companies : . Shares in businesses assessed as partnerships, not covered by the exemption method. : In this field, shares in businesses assessed as partnerships, that are not covered by the exemption method, are specified. Accounting differences on participations in businesses assessed as partnerships : . Accumulated taxable carry-forward loss : The value is obtained from the values ​​recorded under the left-hand menu item Applied deficit carry forward. Recalculated unused credit deduction to carry-forward : .Here, the value must be carried forward credit deduction divided by tax rate (grossed basis for credit deduction Taxable carryable unused correctional income : In this field, the cut-off interest deduction is entered for carry-forward Reduced interest deduction to carry-forward : In this field, the cut-off interest deduction is entered for carry-forward. Other differences that affects deferred tax : Differences that cannot be entered elsewhere and which only affect deferred tax are entered in this field. Other taxable income and deductions /periodandyear/help/taxation/impersonal/tax-calculation/other-taxable-income-and-deductions page 2024-09-12T19:33:52+02:00 # Other taxable income and deductions Here you specify other income and deductions that should affect **Total taxable result** in **Calculations - Other tax income and deductions**. **Other taxable income and deductions** are transferred to the calculation on the left hand side. Approve the values by clicking on the status symbol in the column **Done**. Application of forward losses /periodandyear/help/taxation/impersonal/tax-calculation/application-of-forward-losses page 2024-09-12T19:33:52+02:00 # Application of forward losses Go to **Tax calculation - Application of forward losses** to update the overview of applied losses carried forward. The values ​​entered and calculated in this view are transferred to RF-1028 fields 280 to 290 and, possibly, field 232. **Rest losses carried forward from previous years** are specified and deducted from this year's result. If the company has losses during the year, these are added to **Rest losses carried forward from previous years** and is included in **Total losses carried forward next year**. ## Field explanations Performed unused losses after the tax assessment last year : This amount is retrieved from field 290 in last year\'s RF-1028. Achieved private arrangement and debt relief this year : In this field, debt relief for the current year is specified. Share of the private arrangement and debt forgiveness offset against tax losses previous years : In this field, the share of the debt relief which is to be offset against tax losses from previous years is specified. **Application of forward losses** is transferred to the calculation on the left hand side. Approve the values ​​by clicking on the status symbol in the column **Done**. Other adjustments /periodandyear/help/taxation/impersonal/tax-calculation/other-adjustments page 2024-09-12T19:33:52+02:00 # Other adjustments Go to **Tax calculation - Other adjustments** to make other adjustments that affect the total taxable result. **Total other adjustments** is transferred to the calculation on the left hand side. Approve the values ​​by clicking on the status symbol in the column **Done**. Tax expense /periodandyear/help/taxation/impersonal/tax-calculation/tax-expense page 2024-09-12T19:33:52+02:00 # Tax expense In **Tax calculation -Tax expense**, you see the calculation of **This year's tax base**, **Tax expense income statement** and **Tax payable balance sheet**. Tax calculation starts with **Ordinary profit before tax expense**. In order to arrive at **This year's tax base**, the result is adjusted for intra-group contributions, permanent differences, this year's changes in temporary differences and loss carryforward. **Payable income taxes** is calculated by multiplying the **This year's tax base** with the year\'s tax rate. **Tax expense income statement** is distributed on **Payable income taxes** and **Changes in deferred tax**. In addition, **Insufficient / too much tax provision in previous years** and **Tax intra-group contribution** are also taken into account. **Insufficient / too much deferred tax in previous years** is automatically processed by the system as a correctional item to the tax payable this year. This is done in the closing entry for payable tax. A debit balance on the account Tax payable, not determined, before calculating the estimated taxes for the year, will automatically be recorded as an expense. A credit balance is automatically deducted from the estimated taxes for the year. **Tax payable balance sheet** consists of tax payable on the year's result, deduction of subsidies hoards and tax effect of group contributions. Paid taxable intra-group contribution is recorded directly in the balance sheet and reduces payable tax for the donor (as allocation of the result when intra-group contribution is paid to a parent or affiliated company, and when it is recorded as increased acquisition cost of shares for intra-group contributions paid from parent company to subsidiary). When an item affects payable tax directly in the balance sheet, tax payable balance sheet shows a different amount than payable tax, tax expense. The closing entry **Payable tax** is automatically updated. Values for previous year ​​are entered manually. **Tax expense** is transferred to the calculation on the left hand side. Approve the tax calculation by clicking on the status symbol in the column **Done**. Allocation of result /periodandyear/help/taxation/impersonal/tax-calculation/allocation-of-result-display page 2024-09-19T15:50:46+02:00 # Allocation of result In **Tax calculation - Allocation of result** the allocated accounting result after tax is displayed. Open the menu **Allocations** to make changes. Either by clicking on **Allocated result** in the left menu to be redirected or directly in the **Allocations** top menu. Read more in [Allocation of result](/periodandyear/help/taxation/impersonal/allocations/allocation-of-result).