Norway to defer VAT on imports to VAT returns

29 June 2016

Norway plan to change the rules on accounting for VAT when importing goods into the country by allowing VAT registered businesses to defer the import VAT to their VAT returns.

This will in effect remove the requirement to pay import VAT on goods at the time they are imported which could result in savings on shipping costs and bank charges.  It should also improve cash flow for businesses importing into the country, as they will no longer need to wait for the VAT to be refunded from the Norwegian tax authorities.

It is hoped that this will be introduced on 1 January 2017 and due to the new reporting requirements it will require a new Norwegian VAT return form to be implemented.

LATEST NEWS

Separate EORI number for Northern Ireland required

HMRC have recently confirmed that businesses who import and export goods from Northern Ireland (NI) will need a special Economic Operator Identification Number...

SEE MORE
LATEST NEWS

Belgium force UK companies to engage a fiscal...

The Belgium tax authorities are contacting UK traders who hold a Belgium VAT account to inform them that they have a requirement to appoint a fiscal...

SEE MORE
LATEST NEWS

Fiscal representation not required in France for UK...

The French tax authorities have confirmed that UK businesses will not have a requirement to engage a fiscal representative when the Brexit transition period...

SEE MORE

Gated Content

The following email providers are not accepted: gmail, hotmail, yahoo. Please use proper company email.