Further to our previous story, it has been confirmed by the Norwegian Ministry of Finance that they are still currently finalising the regulation and must provide at least one year to allow businesses to implement the requirement. Therefore, the introduction of mandatory SAF-T reporting will be delayed until 1st January 2019 at the earliest. Until... Read more »
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We previously reported that the Norwegian government proposed to increase the super reduced rate of VAT from 10% to 12% and the change has now been confirmed to take effect from 1st January 2018. It is advised that any remaining purchase invoices with a VAT rate of 10% should be reclaimed in the November to... Read more »
Further to our earlier story and in line with what the EU commission announced in its VAT action plan on 7th April 2016, (to combat fraud on taxation, especially in the e-commerce sector and have better cooperation with Non-EU countries) a new proposal between the European Union and the Kingdom of Norway was published on... Read more »
Its anticipated that the Norwegian Tax Authorities will be introducing SAF-T reporting for VAT registered businesses with effect from 1st January 2018. This requirement will apply to any business with more than NOK 5 million in turnover or which has more than 600 documents. Additionally, if a business has their bookkeeping information available electronically then... Read more »
On 12th October 2017, the Norwegian government presented its proposals for the 2018 budget announcing an increase of the super reduced rate from 10% to 12%. The super reduced rate applies to cultural services, i.e. cinema admission, museum admission and hotel accommodation, and public transport. If the proposal is finalised then the increase would come into... Read more »
The European Commission has announced that negotiations between the European Union and Norway on cooperation in the field of VAT have been successfully completed. The negotiations started in June 2015 and have focused on establishing a common framework for tackling issues related to VAT recovery assistance and combating VAT fraud.
Norway will be launching a new, simplified and improved VAT return form. The new VAT return will be called the “Skattemelding for merverdiavgift” and comes into effect from 1 January 2017. The reason for needing a new VAT return is that instead of paying import VAT to the customs authorities, from 1 January 2017 responsibility... Read more »
Norway has recently proposed plans to increase its current reduced VAT rate of 8% to 10%. The decision is due to be made on or around December 14, 2015 and if approved by parliament, the new rate would be effective 1 January 2016.
The Norwegian budget for the year beginning 1 January 2016 has been presented and it confirms that the lowest rate of VAT will be increasing from 8% to 10%. This means that consumers of hotel and holiday accommodation and public transport might see increased costs in the new year.
The Norwegian Ministry of Finance has published a consultation paper in conjunction with a proposal to ease the representation rules when VAT registration is required. As it currently stands, Norway requires non-established taxable persons to register for VAT via a representative. The only persons currently exempt from this rule are those from countries which have... Read more »