Norges Bank emphasized the importance of responsible innovation in Norway's payment system, balancing efficiency, security, and inclusivity to maintain trust in monetary systems. Key initiatives include exploring instant payments through the Eurosystem’s TIPS service, researching Central Bank Digital Currency (CBDC), and adopting the ISO 20022 messaging standard for improved financial infrastructu... Read more

If you are struggling with complex e-invoicing implementations across multiple countries, and if you are concerned about mounting costs, potential delays, or compliance risks, our webinar will help you to learn how global retailers can streamline e-invoicing efficiently! With countries worldwide mandating e-invoicing, international retailers face unique challenges adapting to new regulations acros... Read more

A Norwegian Court of Appeals ruled that a nonresident online fashion retailer qualifies for simplified VAT registration under the VOEC scheme for B2C sales of small consignments, with the Supreme Court declining to hear an appeal, making the decision final. Read more

Despite only three percent of Norwegian customers using cash, new legislation mandates that businesses must offer cash payment options for amounts up to 20,000 kroner (about 1,670 EUR) from October 1, 2024. The government has reinforced this right by committing to fine businesses that neglect to comply, underscoring cash's role in accessibility and emergency preparedness. According to a survey by... Read more

The Norwegian Tax Administration will require businesses to use SAF-T Financial Version 1.3 for submitting accounting data starting January 1, 2025, with significant updates including revised balance account structures, VAT details, and mandatory fields. This version is not backward compatible, so businesses must be prepared by the start of their first accounting period in 2025. The changes aim to... Read more

Businesses subject to fiscalization obligations can indeed share a common POS system, provided it allows for separate registration of transactions for each entity and keeps payment methods distinct. Read more