As from January 2017, import VAT amounts must be reported in your Norwegian VAT return. Before the changes, import VAT was reported in a separate form called ´omsetningsoppgave for merverdiavgift´. These changes are due to the VAT authorities taking over from the Customs authorities on the collection of import VAT.
The tax authorities have now updated the VAT return form to include a box for import VAT. The amount to be included in this box must be taken from the customs declaration.
Deadlines for submission and payment of the VAT remain unchanged. In Norway, VAT returns are submitted...Read more
Following our earlier announcements on the plans to waive fiscal representation , the Norwegian tax authorities recently confirmed that fiscal representatives will not be required as from 1 April 2017 for businesses based in the following countries Belgium, Czech Republic, Denmark, Finland, France, Germany, Iceland, Italy, Malta, Netherlands, Poland, Portugal, Slovenia, Spain, Sweden and UK.
The tax authorities announced these changes in their website, although they have not yet published the forms and administrative requirements to move from fiscal representation to direct registration....Read more
Norway will no longer introduce the SAF-T requirement in 1 January 2017. The new implementation date is expected to be 1 January 2018, although it has not been confirmed yet.
SAF-T stands for Standard Audit File for Tax reporting. It was developed by the OECD to give tax authorities a template to retrieve business accounting data during a tax audit. This template would be the same in all OECD countries, hence making it easier for large multinationals to adapt to data requests. However, in practice, each country is introducing deviations from the proposed SAF-T project so it is no longer a standard file...Read more
Norway has recently decided to cancel plans on the implementation of Financial Transaction Taxes (FTT). A new plan on the introduction of this tax has been discussed for years in the European Union with several countries backing the proposal but not reaching a final agreement on the implementation conditions. Norway is not an EU Member state, but the FTT was being considered as additional tax revenue from the financial services industry. However, following the Budget law debate for 2017, the FTT plans will be replaced by a new payroll tax on this industry.
In addition to the above, Norway...Read more
The Norwegian government became the latest country to propose introducing the Standard Audit File (SAF). This file is a template proposed by the OECD to be used by tax authorities in order to receive information from taxpayers. The format and content requirements of this template in each country, however, are not as standard as expected.
The SAF-T in Norway would apply to businesses with a turnover above NOK 5,000,000 or more than 600 transactions per year. If approve, this new requirement would enter into force on 1 January 2017.
Poland, Portugal, France and Austria have also announced the introduction...Read more
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