UPDATE: Norway to defer VAT on imports to VAT returns

31 August 2016

In our previous article from June 2016 we stated that the Norwegian tax authorities were planning to change the rules on accounting for VAT when importing goods into the country.  These changes have now been confirmed and mean that from 1 January 2017 companies registered for VAT in Norway will need to report and deduct import VAT in their VAT returns.

This will in effect remove the requirement to pay import VAT on goods at the time they are imported, which should result in savings on shipping costs.  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.

These new requirements will apply to all businesses importing into Norway and a new Norwegian VAT return form will be introduced to allow VAT registered businesses to account for this deferment.

LATEST NEWS

Norway consults on VAT rule changes relating to...

The Norwegian Ministry of Finance has launched a public consultation relating to the VAT treatment of non-digital services supplied by non-resident suppliers...

SEE MORE
VAT news
LATEST NEWS

European Council confirms that VAT is due on online...

The European Council has amended the EU wide VAT directive (No. 2022/542) relating to the place of supply for live virtual events. The amendment confirms that...

SEE MORE
VAT news
LATEST NEWS

UPDATE: European Council allow Poland to implement...

The European Council has allowed Poland to amend its electronic invoicing legislation to make it mandatory for businesses to use the regime from as early as...

SEE MORE
VAT news

Gated Content

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