Regulations on the tax free prize fund for avsetnad to arbeidsgjevaravgift to folketrygda.

Date-1968-01-19-4 Ministry Ministry of finance Published in 1968 s 203, II 1968 s 19 effective date last modified the Change applies to Norway Pursuant Law-1967-07-07-8-section 9.

Announced short title regulations on avsetnad to the prize fund Chapter overview: Additional rules to the law on tax free provisions of the Fund for social security tax rules on the transfer of the provisions when a company changes ownership.

The Ministry of finance or the authoring power of Attorney this-gis to determine the rules that are discussed in section 9 of the law of 7. July 1967 about the tax free to the prize fund avsetnad for arbeidsgjevaravgift to folketrygda.

Complementary rules to the law on tax free provisions of the Fund for social security tax Rules to the completion and implementation of the law of 7. July 1967 about tax free provisions to fund employer fee to the national insurance scheme.

Payment of the accrued amount.

According to § 3 of the law to the accrued amount paid no later than one month after the expiry of the deadline set for the submission of employer's tax returns. This payment happens to Norges Bank in the district concerned employer has his address. By the payment must the employer provide their name and address as well as the employer number. Norges Bank to post the payment on a separate account in accordance with section 3 of the law. In this regard, it should be created an account for each employer who make use of this provision. On this account are posted, besides the input and payouts, also the interest incurred in connection with the individual years ' sales.
Norges Bank shall be by the reception of the submitted amount to send a receipt in duplo to the employer. The receipt will be applied to the employer's name, address, employer number, the received amount and the date of the reception. The employer will after receiving the receipt from the Norges Bank, as soon as the send a copy to the competent tax office to legitimize that it accrued amount is paid to the Norges Bank.

Repayment of the accrued funds.

According to section 7 of the law the employer can claim the refund of the accrued funds with the addition of interest rates. A claim for refund must be initiated in writing to Norges Bank. Norges Bank shall inform the competent tax office when the refund will take place. Pursuant to section 8 of the law to the taxman make emulation of the repaid amounts for the income year when the sales took place. If an employer that has provisions for in several years, only requires a number of these will be refunded, the amount repaid is attributable income accrual in the oldest year insofar as the amount covers this year deposits plus interest. Any excess part of the amount refunded will be added in the same way to the subsequent provision annual income.

The use of allotted funds for the payment of social security tax.

When the employer will use the funds for the payment of the accrued payroll tax, ref. section 6 of the Act, he must report this in writing to the Norges Bank and request that the amount to be used, will be transferred to the competent municipal treasurer. Such a request must be sent no later than 7. day after the assessment period for the employer tax is the end. The employer must normally submit the calculation of the tax base on the prescribed form to the municipality the cashier, and at the same time pay any difference between the tax amount and the amount to be covered by the accrued funds. The employer must make note on the form about which amount is requested from the Norges Bank transferred to the municipality the cashier.
Norges Bank will find that the employer's request can be honored, ref. section 5 of the Act, the Norges Bank transfer amount to the competent municipal treasurer, and at the same time send a message to the employer that the transfer has taken place.
Norges Bank will find that the request for transfer non-or only partially-can be complied with, the reasoned message about this sent the employer and the competent municipality Treasurer.

Rules for employer's posting of the settings: 1. The posting of the accrued amount.

The accrued amounts to be debited a separate expense account (accrual account) which ends against the account of loss and gain. The accrued funds must arise in the balance sheet as a claim in Norway's Bank with a corresponding passivapost for accrued Fund assets.

2. Posting when the allotted funds be used for coverage of the social security tax.

When the allotted funds will be used for the coverage of the social security tax, the accrued amount with the addition of interest rates-as noted by the status is reduced by the amount that is used for the coverage of the social security tax. Amounts to be thus taken to credit the account of the claim in the Philippine Bank and to debit on the accrual account.

3. Posting by repayment of the accrued funds.

If the employer get repaid, the funds accrued refunded amount is credited to a separate account for the repayment of the accrued funds. This account will end against the account of loss and gain. The amounts to be refunded, however, taxed in the provision the year-not in the year the refund takes place. The amount must therefore be brought to the deductions in income on special record on the form for the annual accounts that include your income tax return. Employers who do not deliver the annual accounts, shall cause the amount of deductions that particular record in your income tax return.
By refund to the accrued funds (as stated by status) is reduced by the repaid amount, see section 2.

4. Posting of accrued interest.

At year-end to Norges Bank send message to employers with the setting of the interest amount that is påløpet. These interest rates will be in accordance with section 4 of the law are not included in the taxable income, but the interest amount should still be credited to a separate account for the tax free interest income which ends against the account of loss and gain. (The amount will be debited at the same time account for claim in Norges Bank). The tax free interest amount should be entered to the deductions in income as special entry on the form for the annual accounts that include your income tax return. Employers who do not deliver the annual accounts, shall cause the amount of deductions that particular record in your income tax return.

Rules on the transfer of the provisions when a company changes ownership.

A. Limited Liability Company.

The rules on access to the sales, refund and use of the allotted funds will apply unchanged in those cases where the shares of a corporation changes ownership.
When a limited liability company that has deposited funds, is being dissolved and the business taken over by shareholders, a transfer of the accrued funds to shareholders does not take place. In such case, the accrued funds with interest will be refunded from the Norges Bank and the company imitated by the rules in section 8 of the law.

B. Personal company.

Funds that are deposited by a private unincorporated enterprises may not be transferred in connection with the transfer of the business. When a company changes ownership, must, therefore, any deposits with interest will be refunded from the Norges Bank to the transferor and the imitation take place in pursuance of section 8 of the law. This also applies in cases where the company transferred to the heirs of life.

Transition by inheritance, etc.

When a personal business is inherited and heir takes over and still runs the deceased's business activities, the heiress take over the Fund on the same terms settings for tape laying and use of the allotted funds that applied for arvelateren. The same is true for surviving spouse who in uskiftet stay continues the deceased's business activities. Heir or surviving spouse who in this way wants to take over the allotted funds, faced with Norges Bank certificate from the Probate Court.

The conversion of the personal company to the Corporation.

When a personal trader who has made tax free fund provisions by Law Nr. 8 of 7. June 1967 transfer your business to the Corporation, and at the same time taking over a substantial part of the shares, the Treasury Department agree that the accrued funds are transferred to the stock company on the condition that the company accepts the terms and conditions that apply to use of tape and fund the funds and also agree that the rules that apply to the equation of taxable who has made provisions, shall have corresponding application by the equation of the company.
If the accrued funds after the transfer is not used by the company in accordance with the terms and conditions that apply to the settings, to the amount paid is added to stock the company's income in the year the payment takes place.