Set aside funds to pay tax on employees' salaries and pensions
The account meets the conditions of the Norwegian Tax Payments Act
The account is blocked against withdrawals and can only be used to pay tax.
Closure of tax deduction account - From 1 January 2026, tax deductions must be paid directly to the Norwegian Tax Administration Read more here
As an employer you must deduct tax from salaries and other benefits that you pay your employees.
Set aside funds to pay tax on employees' salaries and pensions
The account meets the conditions of the Norwegian Tax Payments Act
The account is blocked against withdrawals and can only be used to pay tax.
As an employer you’re obliged to calculate and pay withholding tax when you have employees. As a rule, the payment is made to the tax collector in the municipality where the business is established.
A tax withholding account must only be used to set aside money to pay the tax authorities. The account is blocked against withdrawals and can only be used to pay tax. The account cannot be used to pay Value Added Tax (VAT).
Agreement terms and conditions, tax withholding account (PDF)Open the file in a new tab
Perfect for all types of incoming and outgoing payments
Set aside a separate account for withholding tax
Higher fixed-income security than regular account
Fixed-income security on the deposit over an agreed period
Security when renting or letting a home
An account for settlement and transactions in the established currency
For administration of clients’ funds
Better use of the group’s overall liquidity
Better management and control with effective solutions