The tax return for businesses – how does it differ from a personal one?
It has to be actively filed, and it contains a business specification with the business's income, costs, assets, fixed assets, tax differences and carried-forward losses. A limited company files as a separate taxable person through its accounting system; in a sole proprietorship the owner files their personal return with the business specification built in. The deadline is 31 May, with the option of a one-month extension.
It does not arrive pre-filled
An ordinary employee receives a tax return that is largely pre-filled. If you run a business, you also have to report the business's income, costs, assets and tax position – and a business has to actively file the return. It does not file itself at the deadline.
What is the business specification?
The business specification can contain income, costs, assets, relevant liabilities, fixed assets and depreciation, tax differences, carried-forward losses and other tax information. It has replaced a range of old RF forms and business statements. Guides still referring to «næringsoppgave 1» or «RF-1175» are out of date.
Small sole proprietorships get a simplified version
When you open the business specification for the first time you are asked whether operating income is above NOK 50,000. Answer no and you get a simplified specification. Note what this is not: NOK 50,000 is not a general threshold for when bookkeeping or tax obligations start. The threshold governs how extensive the form is.
Companies and sole traders file differently
A limited company is a separate taxable person and files through its accounting or year-end system. A sole proprietorship is not a separate taxable person. The owner files their personal tax return with the business specification built in – the business and the private finances meet in one return.
Tax: 22% against personal taxation
In a limited company ordinary corporation tax is 22% in 2026. In a sole proprietorship the profit is taxed on the owner. General income, personal income under the business model, national insurance contributions and bracket tax are all calculated. The national insurance contribution on other business income is 10.8% in 2026, against 7.6% on salary. Taking money out of a limited company is a separate question – see Salary or dividend from your own company
The accounting result is not the taxable result
The accounting result often has to be restated. Permanent differences never reverse – non-deductible costs or tax-free income, for instance. Temporary differences reverse later – typically between the accounting and the tax value of fixed assets. See Depreciation Temporary differences give rise to deferred tax or a deferred tax asset in the balance sheet.
The participation exemption and the gain and loss account
A share gain within the participation exemption is normally fully exempt. For a dividend within the exemption, 3% is as a general rule taken to income, which at 22% tax gives 0.66% effective tax. Group exceptions exist – see The participation exemption On the gain and loss account, at least 20% of a positive balance is taken to income each year, and up to 20% of a negative balance can be deducted.
Deadline and self-amendment
The ordinary filing deadline is 31 May. A one-month extension to 30 June can be applied for, and the application has to be sent before the ordinary deadline. The business can itself amend the last three income years. After the three years, Skatteetaten has to reopen the assessment.
If something is wrong
Ordinary additional tax is normally 20% of the tax advantage where the conditions are met, and aggravated additional tax can be added for gross negligence or intent – see Additional tax and aggravated additional tax Where the business corrects information genuinely voluntarily, before the correction is prompted by enquiries or by information the authorities already hold, the additional tax can fall away – see Voluntary disclosure We handle the year-end close, the business specification, the tax return and corrections to earlier years – see also The year-end close step by step
Read more
This is general guidance, not advice on your specific case. Deadlines, rates and amounts change – always check the current rules, or get in touch with us.
More on year-end close and reporting
- What has to be done in the year-end close for a company and a sole trader?
- Statutory audit – when can an AS opt out of an auditor?
- The shareholder register statement – deadline, content and errors
- Depreciation – which groups and rates apply?
- Inventory at the year-end close – how is it counted and valued?
- Why is the result not the same as the money in the account?
- How long do accounting records have to be kept?
- The annual cycle for a Norwegian AS – which deadlines apply through the year?
Is it urgent?
We can work out what actually has to be done, what documentation exists and how quickly it can be sorted. You can also reach us in the evenings and at weekends.
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