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Norway's Tax Blog – tax, VAT and legal matters

Norway's Tax Blog – tax, VAT and legal matters

Revised national budget 2017 - Corporate taxation, VAT and personal taxation

By Cecilie Beck Landet, 11-May-2017 14:34:39

The proposal for the revised national budget 2017 was presented on 11 May. The most interesting proposals relate to tax deductions for investments in start-up companies and postponed taxation of employee options. This article provides an overview of the key proposals within corporate taxation, VAT and personal taxation.

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Areas of interest: VAT, Personal and payroll tax, Corporate tax, Customs and duties

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Changes in the Polish VAT law - 4 important updates for traders registered for VAT in Poland

By Diana Geilhufe, 24-Jan-2017 10:44:16

A couple of important changes of the Polish VAT Act came into effect 1st January 2017. The main purpose of the changes is to ensure greater stability of the VAT system by reducing tax frauds and tax abuses. The 4 main changes are described below.

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Areas of interest: VAT

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VAT treatment of management of funds – new guidelines

By Bjørnar Elverhøy Michaelsen, 06-Dec-2016 12:00:12

It is certain that management of investment funds is exempt from VAT. However, there has been some doubt as to the correct VAT treatment of parties that supply services directed at private equity- and venture capital funds. In order to tackle this uncertainty, The Norwegian Tax Administration has now issued new guidelines on how the exemption shall be interpreted. The changes stipulated will take effect as of 1st January 2017.

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Areas of interest: VAT

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Import VAT – New procedures from 2017

By Per Kirknes, 11-Oct-2016 12:04:23

From 1 January 2017 the reporting procedure for import VAT in Norway changes. Following our neighbours in Sweden and Denmark, Norway is introducing a reverse charge procedure. But are the importers prepared for the change?

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Areas of interest: VAT

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SAF-T – new reporting obligations that are sweeping across Europe

By Diana Geilhufe, 05-Oct-2016 11:37:37

Standard Audit File for Tax (SAF-T) is an electronic format (.xml) for efficient transfer of accounting data from companies to tax authorities or external auditors. SAF-T was first adopted in Portugal and has further spread to other countries like Austria, Luxembourg, France and recently to Poland and Lithuania. Potentially, as of 1 January 2017 SAF-T will also be implemented in Norway.

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Areas of interest: VAT

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Special payroll tax for the financial sector in Norway?

By Synne Hangeland, 26-May-2016 11:24:12

On May 4, the Government and the opposition parties announced that they aim to present a new tax for the financial sector when the national budget for 2017 is presented. The Government has not yet commented on what kind of tax this will be, but according to sources the Norwegian newspaper Dagens Næringsliv has talked to, the new tax for the financial sector will be formed after the current special payroll tax model in Denmark (in Danish: “lønnssumsavgift”)

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Areas of interest: VAT

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New VAT return from 2017 – simplifications for the VAT liable businesses?

By Synne Hangeland, 03-May-2016 09:15:06

From 2017, a new VAT return form called “Skattemelding for merverdiavgift” will replace the current VAT return form in Norway. The main reason for changing the VAT return is that import VAT shall be reported in the VAT return from 2017, instead of paid on importation. However, the changes entail that all VAT liable businesses in Norway will have to update their ERP systems and VAT codes.

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Areas of interest: VAT

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VAT registration obligations in Norway for non-established suppliers

By Per Kirknes, 20-Apr-2016 16:08:26

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Non-established suppliers of services are often not aware of their VAT obligations in Norway. In the EU, such services are to a large extent subject to a reverse charge procedure, whereby VAT is calculated by the customer. This is not the same in Norway.

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Areas of interest: VAT

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45 years in technological doze

By Kristine Baltzersen, 11-Apr-2016 09:28:42

In a complaint against the tax authorities, there have been disagreements regarding the significance of a statement from the Ministry of Finance from 1971 regarding foreign ownership in VAT group registrations. The tax authorities has claimed that control considerations imply that the statement has the same relevance today, despite the technological development in the last 45 years. Thus, we are happy that the Directorate of Taxes finally has realized that information regarding company structures is more available today than in 1971, and has decided to allow VAT groups where there is more than one foreign owner in the structure.

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Areas of interest: VAT

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Are you ready to report VAT electronically April 10 2016?

By Marit Barth, 31-Mar-2016 09:07:32

The option to deliver VAT returns on paper is no longer available with effect from January 1 2016. This imply that the VAT return for term 1 (January and February) which is due April 10 must be submittet electronically through Altinn.no

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Areas of interest: VAT

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