You must depreciate fixed assets that the enterprise expects to use for more than 3 years, and that have an original cost of NOK 15,000 not including VAT. You can also use the deduction tool for sole proprietorships. The cost when you buy the machine is NOK 100,000, but you can only deduct 30 percent in the account, i.e. The machine must be depreciated (the expense is divided over several year in the accounts). Computed cost can be depreciations where the computed cost is not directly related to the cost.Įxample: You buy a machine for NOK 100,000.Expenditures are expenses that entail a corresponding cost.Įxamples: postage, office equipment, raw material, goods for resale etc.The enterprise's expenses can be divided in two main categories: ![]() You can deduct expenses related to running your business in your accounts. The purpose of this rule is to make it harder to commit fraud. If you pay for the enterprise's purchases in more than one instalment, the above-mentioned NOK 10,000 limit applies to the purchase in entirety (all instalments). This rule allows the tax authorities to exclude expenses in the accounts when there are cash purchases over NOK 10,000. In order to deduct the expenses for your enterprise, you must pay via a bank (using a card or an invoice). ![]() You cannot deduct expenses or input VAT you pay in cash if the cost is NOK 10,000 or more. ![]() If you choose to pay the enterprise's expenses with cash (bills or coins), this is called a cash purchase.
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