It is proposed to eliminate the differential VAT rates in the current VAT-regime.
The Revised National Budget was presented today at 1045 am, and provides few surprises.
Areas of interest: VAT, Personal and payroll tax, Corporate tax
We are pleased to invite you to the next episode of our US Tax Reform Regulation Release Update Webcast Series Episode Two Transactional Issues and GILTI
Areas of interest: Corporate tax
We are pleased to invite you to the next episode of our Anti-Tax Avoidance Directive Webcast Series, Episode 3: UK and Swiss Tax Reform, Wednesday, 13 March 2019, 15:00 – 16:00 CET.
Areas of interest: Corporate tax
With effect from 1 January 2019, the Norwegian tax authorities have introduced a Source Tax system based on the ‘Pay As You Earn’ (PAYE) principle for individuals who are temporarily staying in Norway.
Areas of interest: Personal and payroll tax
The Norwegian Parliament has passed amendments in the Norwegian Private Limited Liability Companies Act (NO: Aksjeloven - “ASL”) and the Norwegian Public Limited Liability Companies Act (NO: Allmennaksjeloven - “ASAL”), in order to simplify the economic and administrative burden for companies. Some of the amendments came into force 1 January 2019, others with effect from 1 March 2019. Additionally, some amendments will enter into force later. The amendments are such as:
Areas of interest: Legal
Norway currently has a low value VAT and customs relief for consignments not exceeding a value of NOK 350 (appr. 35 EUR). The majority in the Norwegian Parliament has decided to remove this relief from 1. January 2020.
Areas of interest: VAT rules
Published on 8 October 2018, the 2019 National Budget proposes to amend the Norwegian interest deduction limitation rules. The amended rules apply to companies part of a consolidated group, and limit interest deductions on bank loans, bonds and other debt to unrelated parties. The threshold amount, which determines whether the rules apply, is increased to MNOK 25. Where the threshold amount is exceeded, deductions are limited to 25 % of taxable EBITDA. Further, an equity escape clause is introduced, granting full deductions for interests if the taxpayer is able to demonstrate that the equity ratio in the Norwegian part of the company or the Norwegian part of the group is about the same as in the group as a whole. Companies subjected to the new rules are recommended to identify how the new rules may affect them and whether measures should be taken.
Areas of interest: Corporate tax
The national budget for 2019 was presented on 8 October 2018. This article provides an overview of the main proposals regarding corporate taxation, VAT and personal taxation.
Areas of interest: VAT, Corporate tax, personal taxation
Our worldwide tax summaries for 2018/2019 recently got published!
Areas of interest: Corporate tax