June 16, 2025
What does this mean in practice?
then it must keep full accounts in accordance with Norwegian regulations—regardless of where the company’s head office is located.
❌ No. Even if a company maintains its books abroad (e.g., in Poland), all business activities carried out in Norway must be recorded and documented according to Norwegian regulations.
This means that foreign businesses conducting taxable and/or VAT-liable activities in Norway are obliged to comply with the Norwegian Bookkeeping Act.
✅ When Does a NUF Fall Under the Norwegian Accounting Act?
According to § 2 of the Norwegian Bookkeeping Act (Bokføringsloven):
“Anyone conducting business and required to submit VAT returns under § 8‑3 of the Tax Administration Act shall be subject to the bookkeeping obligation under this Act for the business conducted.”
What does this mean in practice?
If your NUF:
- conducts business in Norway, and
- is required to file VAT returns (skattemelding for merverdiavgift),
then it must keep full accounts in accordance with Norwegian regulations—regardless of where the company’s head office is located.
📚 Accounting Obligations for NUFs
If your branch in Norway is VAT registered (i.e., avgiftspliktig), you are required to:
- keep full accounting records in line with the Bookkeeping Act (Bokføringsloven),
- prepare a balance sheet, profit and loss statement, and explanatory notes,
- store accounting documentation in the required format and timeframe,
- maintain records in Norwegian, Swedish, Danish, or English,
- keep accounts in Norwegian currency (NOK).
Additionally, if the NUF’s annual turnover exceeds NOK 7 million, the company is subject to audit requirements.
🧾 Is Accounting in the Home Country Sufficient?
❌ No. Even if a company maintains its books abroad (e.g., in Poland), all business activities carried out in Norway must be recorded and documented according to Norwegian regulations.
Skatteetaten clearly states:
"Utenlandske næringsdrivende som driver skatte- og/eller avgiftspliktig virksomhet i Norge, har bokføringsplikt etter bokføringsloven."
This means that foreign businesses conducting taxable and/or VAT-liable activities in Norway are obliged to comply with the Norwegian Bookkeeping Act.
🏢 What About Annual Reporting?
NUFs registered in the Norwegian Register of Business Enterprises (Foretaksregisteret) are also required to file financial statements with the Register of Company Accounts (Regnskapsregisteret) in Brønnøysund, in line with the Accounting Act and relevant reporting rules.
🤝 Is It Worth Cooperating with a Norwegian Accounting Office?
Absolutely. Due to the complexity of the regulations and strict oversight by Skatteetaten, we strongly recommend that NUFs engage a Norwegian accounting firm experienced in handling foreign branches. Running an accounting practice in Norway requires authorization from Finanstilsynet, the Norwegian Financial Supervisory Authority.
At Novum Økonomi AS, we assist Polish businesses operating in Norway—from registration and accounting to payroll and VAT reporting.
📞 Contact Us
Do you have questions about NUF accounting in Norway?
Want to know whether your company is fully compliant?
Do you have questions about NUF accounting in Norway?
Want to know whether your company is fully compliant?
Questions about doing business & accounting services in Norway?
Send question now!We are here to help you.
