On April the 4th, the tax report for 2017 will be available

tax returnIllustration.Altinn, tax return.Photo: Ole Berg-Rusten / Håkon Mosvold Larsen / NTB Scanpix

The tax authorities have removed the entry in the tax report where additional information could be entered. People can miss tax payment,warn experts.

 

According to the Taxpayers’ Association, the tax return’s most important item, 5.0, has been removed.

“This was where you could add additional information about different items and conditions,” said Rolf Lothe, Head of Department.

Now you have to create an attachment and add this to the tax report if there are any items or other things you are unsure about. Lothe recommended everyone to do this.

“It’s important that people provide the necessary information,” he said.

More cumbersome

The taxpayer’s expert believes the section was probably removed to make it easier for the IRS. Many say it will increase uncertainty when the process becomes more heavy, said the head of the department.

“At worst, they won’t take the opportunity to pick up something they’re unsure about, thus losing tax money,” he said, encouraging everyone to take advantage of the opportunity to explain in particular the background for the deductions they made in their own attachments.

“For example, you may have sold a home with a taxable gain of 500,000 kroner.

Then you should show how you calculated the gain, and what expenses you deducted. Or if you buy and sell stocks and require deductions for expenses to stay updated in the market. Here there are the floating limits, and if you only show the deductions without showing what you intended, you may risk additional tax,” said Lothe.

Uncertain income

Income that you are uncertain of is taxable, such as a travel allowances or a hobby income, and these should be explained.

“If you do not say anything, and the tax office discovers it, you may risk additional taxes.

In the new tax report there are also new rules on commuting, short-term renting out of your own housing, and tax incentives linked to start-up companies.

On April the 4th, the tax report for 2017 will be available electronically on ‘Altinn’. The deadline for delivering tax returns is April the 30th for wage earners and retirees, while businesses have a deadline of the 31st of May.

 

© NTB Scanpix / #Norway Today

Be the first to comment on "On April the 4th, the tax report for 2017 will be available"

Leave a comment

Your email address will not be published.


*