Am I understanding this correctly that I would be paying 58-75% in taxes (combined advanced tax and VAT) as a sole proprietorship? According to Atlinn:
[https://www.altinn.no/en/start-and-run-business/planning-starting/Choosing-Legal-Structure/sole-proprietorships/](https://www.altinn.no/en/start-and-run-business/planning-starting/Choosing-Legal-Structure/sole-proprietorships/)
[https://www.altinn.no/en/start-and-run-business/direct-and-indirect-taxes/the-enterprises-tax/tax-for-sole-proprietorships/](https://www.altinn.no/en/start-and-run-business/direct-and-indirect-taxes/the-enterprises-tax/tax-for-sole-proprietorships/)
[https://www.altinn.no/en/start-and-run-business/direct-and-indirect-taxes/indirect-taxes/value-added-tax/](https://www.altinn.no/en/start-and-run-business/direct-and-indirect-taxes/indirect-taxes/value-added-tax/)
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Edit: Thank you so much everyone for the responses! This makes it much clearer and definitely makes starting a small business here sound more viable. Very excited!
1 comment
You sell something for 100 exl Vat, total 125 for costumer. Those 25kr you set aside on separate account for the state as it’s their money. Of your 100 kr you can deduct expenses, let’s say 50 kr. Those 50 kroner is what you will pay taxes on, and the level of taxes will depend on you total income and deductions in the taxable year.