– There is VAT and tax. There are deadlines and deadlines. It’s a lot of new things that I’m not used to dealing with, says Kristian Fredheim. He is the founder and business owner of the company Wabba Treats AS. The company produces healthier snacks abroad, and sells them here at home. Soon, the tax claims will arrive directly in the online bank at DNB. Now the entrepreneur is among small business owners who will be testing a new app, which will hopefully make the relationship with the Tax Agency a little easier. Tax claims are the cause of nearly 40 per cent of bankruptcies. The app has been developed by DNB in collaboration with the Swedish Tax Agency – and similar solutions will probably be available to everyone eventually. More than one in three inquiries to the Swedish Tax Agency from the business community are about what they owe. About when the claims must be paid. Bankruptcies are often due to tax and duty requirements Demands from the Tax Agency lead to nearly 40 per cent of all bankruptcies in Norway. The number of bankruptcies is increasing. In the third quarter of 2023, a total of 946 bankruptcies were opened – 13 per cent more than the same period last year, according to Statistics Norway. Most of those who went bankrupt were small and medium-sized enterprises. The tax authority is the creditor who petitions for the most bankruptcies. Now, a collaboration between the financial industry and the Norwegian Tax Agency will ensure that business owners receive claims from public law in the mobile bank. The aim of the new app is, among other things, for companies to avoid incurring huge debts to the state. – This is to help traders have a better overview. We also hope that it will lead to more people paying tax and duty requirements on time and that there will be fewer bankruptcies, says tax director Nina Schanke Funnemark. – There are many systems to deal with. The new solution will make everyday life easier, says founder Kristian Fredheim. Photo: Ernst Larsen / Tax Agency – But it is not the case that the Tax Agency is going to postpone its payment deadlines? – We will not do that. The requirements and legal regulations are the same, says the tax director. The Minister of Finance: – Could be a real crisis According to Statistics Norway, in 2021 there were over 377,000 active small businesses in Norway with between zero and four employees. – If you receive large tax claims or VAT claims that you have not planned for, it can be a real crisis for a small business, says Finance Minister Trygve Slagsvold Vedum. Product owner Camilla Bredesen says that the new solution makes it possible to connect companies’ online banking to accounting systems and cash register systems. It can make it easier to keep track of whether the money is in the account when the bills are due. Photo: Ernst Larsen / Swedish Tax Agency The Minister believes that the new technology in will be a practical and non-bureaucratic aid to better planning for sole proprietorships and small businesses. At Skatteetaten.no, from this autumn you can already get an overview of due dates and amounts. When all companies will gain access to the new solution through mobile banking and accounting systems is not clear.
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Tax requirements on mobile phones can prevent bankruptcy – news Norway – Overview of news from different parts of the country
