Within the health industry there are a number of specific VAT issues to be aware of in Norway, both for suppliers of medical equipment and pharmaceutical products.
It is confirmed by the Government that payments of VAT which are due on 10 April 2020 (this year due to Easter falling due on 14 April) for the reporting and payment of VAT for the first VAT period (January – February) of 2020, will be deferred until the deadline for the next VAT period 10 June 2020.
On Friday 13 March 2020, the Government proposed a series of urgent measures to reduce the financial consequences of the ongoing coronavirus outbreak (COVID-19). Below are the details. Note that these proposals will be considered by the Parliament and that there may be changes.
From 1 April 2020, the Norwegian government is proposing to make changes to the Value Added Tax (VAT) rules that apply to non-resident businesses selling and shipping directly to consumers in the country.Read More »
Norway introduced VAT on supplies from abroad of electronic services to consumers (B2C) as from 1 July 2011. VAT is collected through a simplified registration arrangement, called the VOES-scheme, similar to the MOSS scheme in the EU. Reporting of output VAT is done electronically on a quarterly basis, but VAT recovery is not possible through the scheme. Supplies of electronic services to Norwegian businesses (B2B) is VAT taxable on the purchasers hand via the reverse charge mechanism.Read More »
We experience that foreign Entrepreneurs believe that VAT in Norway on supplies of goods with installation can be handled by B2B customer on a reverse charge basis, similar to the VAT treatment in most EU countries. Sadly, since Norway is not a member of the EU, the reverse charge mechanism is not applicable, and the supplier will in most cases be obliged to register for VAT in Norway and charge Norwegian VAT to its customer.Read More »
Referring to the last information about SAF-T, I would like to come back with an update:
The Norwegian Tax Authorities have published a new statement about the possible full implementation of the SAF-T in Norway (not only as a voluntary scheme).Read More »
The Standard Audit File for Tax is increasingly adopted within European countries. Even if SAF-T in Norway has been subject to preparatory works and an ongoing debate since 2014, it still raises a lot of questions due to lack of information from the tax authorities.Read More »
The next country who requires provision of data in standardised way is Norway: based on the initial suggestion made by the Norwegian Ministry of Finance, companies must be ready to send accounting information in the SAF-T Format to the tax authorities upon their request (e.g. in case of a tax audit). Read More »
Accounting system, accounts, VAT codes and customs clearance systems must be updated and make compatible with the new VAT return. This is necessary in order to extract figures specified according to the 19 items in the VAT return. Upgrade of the ERP is unavoidable.
The deadlines for submission and payment will remain unchanged.Read More »
Michaela Merz 