Scandinavia’s Digital Shift: Following Denmark's Lead, Norway Proposes Digital Bookkeeping

The Scandinavian region is steadily moving toward full digitalisation of financial operations. Following Denmark’s groundbreaking Bookkeeping Act, which is already live and actively enforced, Norway is now joining the conversation - with the Ministry of Finance launching a public consultation on a phased introduction of electronic invoicing and digital bookkeeping requirements.

The announcement, made on 1 July 2025, signals that Norway is aligning with its neighbouring countries in creating a more transparent, efficient, and modern financial reporting environment, which will impact businesses operating across the Nordic region.

Norway’s phased implementation of digital bookkeeping

In a significant step towards full digitalisation, Norway has proposed the comprehensive and phased introduction of mandatory electronic business-to-business (B2B) invoicing and digital bookkeeping. The initiative aims to modernise financial operations, increase transparency and improve compliance throughout the Norwegian business landscape.

According to a public consultation launched on 1 July 2025, the proposal outlines a gradual approach with two key milestones for businesses with accounting obligations:

• January 2028: All resident taxpayers subject to the Norwegian Bookkeeping Act (Bokføringsloven) must be able to issue electronic invoices. The proposed format is EHF Billing 3.0 / Peppol BIS. EHF (Elektronisk Handelsformat) is Norway's national profile for electronic invoicing and credit notes based on the European e-invoicing standard (EN), designed to ensure interoperability and ease of exchange within the Peppol network.

• January 2030: These entities must also maintain digital books and have the capability to receive electronic invoices. To facilitate this, businesses must register in the ELMA directory (Elektronisk mottaker- og adresseregister, or electronic recipient and address register), Norway's central registry for Peppol participants. It allows businesses to easily find and connect with other entities that can send and receive electronic documents via the Peppol network.

Stakeholders are invited to provide feedback on the proposals until 31 October 2025. This feedback will inform the final rules. The projected benefits include significant cost savings for businesses, improved compliance, and greater alignment with broader EU reforms.

This long-term, phased plan gives businesses ample time to prepare while making it clear that digital readiness will become mandatory within the next few years.

Echoes of Denmark’s Bookkeeping Act

Denmark is a significant step ahead on the path that Norway is now exploring. Its revised Bookkeeping Act (Bogføringsloven), which came into force in 2022 and is being phased in through to 2026, mandates the use of digital accounting systems and real-time data accessibility for Danish businesses. This requires companies to keep their accounts digitally and store records in secure, standardised systems.

Like Norway, Denmark emphasises:

• The digitalisation of financial records, meaning that companies must use digital accounting systems that are either registered with the Danish Business Authority or that meet equivalent requirements. Companies must also ensure that bookkeeping data, including invoices and receipts, is stored securely for five years. This data must be accessible within Denmark.

• Secure data exchange and storage, enabling real-time access for the authorities to facilitate faster audits and reduce fraud risks.

• Enhanced tax transparency and auditability, with deadlines staggered depending on company size, ranging from large companies already subject to new rules, to small and medium-sized enterprises by 1 January 2026.

The Danish approach is widely seen as a blueprint for digital recordkeeping across Europe, linking invoicing, accounting, and tax compliance into one streamlined framework. Both countries are focusing not just on e-invoicing, but on end-to-end digital bookkeeping, reflecting a shared vision across Scandinavia for a fully digital financial infrastructure.

What about Sweden?

Sweden has also taken steps in this direction, and is considered one of the most advanced countries in e-invoicing adoption in Scandinavia. While it hasn’t introduced a centralised bookkeeping act like Denmark, or mandated e-invoicing for B2B transactions, Sweden has been a pioneer in business-to-government (B2G) e-invoicing and continues to align its e-invoicing practices with EU standards and ViDA proposals (VAT in the Digital Age).

Let's take a closer look at the Swedish landscape:

• B2G (public sector): E-invoicing has been compulsory for central government agencies since 2008, and this requirement was scaled nationally in 2019. Suppliers must now use Peppol BIS Billing 3.0 or Svefaktura via Peppol, a shift enforced even further as legacy EDIFACT formats are phased out, with public sector agencies set to cease recommending EDIFACT on 1 July 2025 in favour of XML/Peppol.

• B2B (private sector): Currently, there is no legal requirement for B2B e-invoicing. However, e-invoicing is widely used, driven by efficiency and interoperability, particularly among larger businesses. In 2023, Sweden's digital and tax agencies called for the exploration of mandatory e-invoicing (in line with ViDA's objectives), but no legislation or timeframe has yet been established.

• Standards & formats: Sweden primarily uses Peppol BIS 3.0 directly, without national customisations, or Svefaktura (a UBL-based format) for public procurement.

With Norway now in consultation, and Denmark already enforcing digital rules, the Scandinavian region is fast becoming a blueprint for digital compliance in Europe.

A regional perspective: Why this matters

The trend across Scandinavia is clear: Digital compliance is becoming the standard — not the exception. What we see in Norway, Denmark, and Sweden reflects a wider shift across Europe, where governments are pushing businesses toward electronic processes not just for efficiency, but also for greater transparency and control.

Key drivers behind this push include:

• Improved VAT compliance and fraud prevention

• Streamlined cross-border business operations

• Alignment with EU digital strategies (even for non-EU countries like Norway)

• Greater business efficiency and automation potential

Together, these factors are accelerating the move toward mandatory e-invoicing and real-time reporting. For companies active in the region, it means adapting early can turn regulatory pressure into an opportunity to simplify processes and stay ahead of the curve.

Key considerations for businesses in Norway

Given this overarching Scandinavian push towards digital compliance, it's crucial for businesses operating within Norway to understand the practical steps they should take now to prepare for the upcoming changes. Even though Norway’s implementation is a few years away, early preparation offers significant advantages:

• Assess current invoicing and accounting systems for compatibility with digital standards.

• Explore certified e-invoicing providers or ERP platforms with built-in digital compliance tools, considering compliance with data security and privacy regulations (like GDPR) for digital financial operations.

• Monitor consultation outcomes and legislative updates from the Norwegian Ministry of Finance.

• Arrange for any necessary internal staff training on new e-invoicing and digital bookkeeping requirements and systems.

• For companies operating in multiple Scandinavian markets, consider a regional compliance strategy to avoid fragmented solutions.

• Leverage the many advantages and gain a competitive edge by optimising processes as part of realising the opportunity that e-invoicing and digital bookkeeping present.

By taking these proactive steps, businesses can not only ensure compliance but also gain a significant competitive edge through increased efficiency and streamlined operations.

Beyond compliance - seizing the Scandinavian digital opportunity

Norway’s proposed e-invoicing and digital bookkeeping mandates are not an isolated shift; they form part of a wider Scandinavian transformation that is establishing the region as a model for digital financial governance across Europe. As Denmark leads with active enforcement and Sweden and Norway follow with strategic planning and consultation, the entire region is setting a new, higher standard.

For companies operating across borders, or even solely within Norway, this isn’t merely a compliance update. It’s a significant opportunity to streamline operations, gain a competitive advantage, and unlock efficiencies that traditional manual systems cannot deliver. Embracing this digital transformation early isn't just about readiness for 2028 or 2030; it's about positioning your business for sustained growth and resilience in a rapidly evolving digital economy.