Share of catches or proceeds from fishing and hunting - reporting and payment of prepayment deductions
Erroneous accrual of penalty interest in connection with reporting and payment of prepayment deductions concerning shares of catches or proceeds from fishing and hunting earned in 2017, but not paid until 2018
Shares of catches or proceeds from fishing or hunting are subject to withholding tax pursuant to Section 5-6 first paragraph c) of the Tax Payment Act. The prepayment deduction will be made when the share of the catch or proceeds is paid. The Directorate of Taxes assumes that the payment deadline for prepayment deductions concerning shares of catches or proceeds earned in 2017, but not paid until 2018, will follow the payment deadline under Section 10-10 of the Tax Payment Act. This means that such prepayment deductions executed in January or February 2108 must be paid by 15 March 2018, even if the basis for the deduction (the proceeds) and the deduction must be attributed to December 2017.
The prepayment deduction must be reported together with information concerning shares of catches or proceeds from fishing or hunting in the a-melding for December 2017. In the Regulations pursuant to the A-opplysning Act, the Ministry of Finance has laid down a specific deadline of 20 February 2018 for the reporting of such information in the a-melding for December 2017.
For system-related reasons, the reporting of prepayment deductions in the a-melding for December will result in an interest charge being erroneously added for these prepayment deductions. The declarants that this concerns must therefore contact the tax collector in order to have the interest demand cancelled. The tax collectors have been informed of this issue.