VPS simplifies the mandatory reporting of share register information to the Norwegian tax authorities.

It has been mandatory since 2004 for all Norwegian public limited companies and private limited companies to provide information from the register of shareholders to the Directorate of Taxes’ shareholder register. VPS takes care of all the reporting on behalf of VPS-registered companies to the Directorate of Taxes. This information is then used by the tax authorities to provide shareholders with the basic information for their annual tax return.

This means that registration with VPS allows companies to avoid the work that an unregistered company has to carry out to maintain its register of shareholders, calculate and distribute dividend payments, and provide all the necessary reporting to the authorities. In addition, VPS-registered companies provide a more efficient service for their shareholders.