E-archiving and retention period in Norway

Electronic archiving

Electronic archiving is available and allowed in Norway.

Electronically available documentation required for the preparation of compulsory financial reporting and compulsory specifications must remain accessible as such for at least three and a half years after the end of the financial year.

Entities with fewer than NOK 5 million in turnover (excluding VAT) are excluded.

Entities in the process of liquidation must keep their documentation for six months after the liquidation is completed.

It is up to the entity itself to decide where the ongoing accounting is carried out, as long as the retention requirements are met. As a rule, records shall be stored in Norway for the duration of the retention period.

However, entities that conduct operations abroad may keep records related to this activity in that country, if they are obligated to do so by the law of the country where the operations are conducted. The accounting material must be available for auditing by the tax authorities in Norway without any delay throughout the retention period.

Electronic accounting material can be stored in the Nordic countries when this is reported to the Directorate of Taxes. On application, the Directorate may grant an exemption for the storage of electronic accounting materials in other countries as well.

Record retention

The main rule states that primary documentation must be kept for five years after the end of the fiscal year.

Secondary documentation must be kept for three years and six months after the end of the fiscal year.

There are several exceptions to these rules. One important exception is the expanded documentation rules for capital goods subject to VAT adjustments, where specific documentation must be kept up to 15 years from the end of the financial year of procurement. Import documents must be kept for 10 years.

Source: Worldwide VAT, GST and Sales Tax Guide - EY