+++ EU - 2009 VAT refund deadline delayed from Sep 2010 to Mar 2011 +++ Poland - 1% VAT increase to 23% +++ Australia - Victoria Fire Service Levy to be scrapped in July 2012 +++ UK - VAT to increase from Jan 2011 +++ Romania - increases VAT 5% to 24% +++ UK - confusion on UK 1% IPT increase +++ Andorra - 4.5% VAT to be introduced +++ India - GST to be implemented April 2011 at three standard rates +++ Bulgaria - to introduce insurance premium tax at 2% +++ Finland - VAT and IPT raised to 23% +++ Belgium - the 9.25% insurance premium tax on credit insurance has been withdrawn +++ Canada - HST introduced in British Columbia and Ontario +++ Hungary - implements insurance premium tax +++ Bulgaria - Intrastat reporting thresholds increased +++ UK - HMRC backs down on VAT on InsuranceWide comparison website +++ France - changes requirements for fiscal rep on insurance +++ Bulgaria - New proposals being pushed with the World Bank to introduce mandatory Catastrope Fund to cover earthquakes etc. +++ +++ EU adopts new VAT Directive on electronic invoices +++ Portugal - increased VAT by 1% to 21% +++ New Zealand - increases GST to 15% +++ Spain - VAT rate increases to 18% +++ Croatia - a 10% motor 3rd party liablitiy risk premium will be charged from 2009 to cover traffic accident costs +++ Czech Republic - new rules on non-resident traders extends the requirement to VAT register +++ Greece in second emergency VAT increase from July +++ Hungary - increased VAT rate to 25% +++ Czech Republic - proposal to change VAT payment point to when cash received +++ Mexico - simplification of VAT reporting +++ EU - ECJ court ruling imposes VAT on salary sacrifice schemes and vouchers +++ Italy - extends reverse charge on VAT for foreign companies +++ Denmark - extension of VAT reverse charge on services from non-resident suppliers +++ Panama - increases VAT to 7% +++ Denmark - overhaul of VAT registration process to comply with EU employment law +++ Estonia - reduced VAT increased from 5% to 9%; many items now on standard rate +++ France - National Guarantee Fund levy on insurance premiums is rising +++ Mexico - increases VAT 1% to 16% +++ Estonia - 2% increased VAT from July 09 to help combat financial crisis +++ EU - New proposals to force all EU member states to switch to monthly VAT reporting to help combat fraud +++ EU - more proof required for VAT import exemptions for onward supply relief +++ EU - Revised Mutual Assistance Directive issued to assist tax authorities share information on VAT and IPT +++ EU - new electronic service to verify authenticity of VAT numbers +++ Finland - Traffic Safety Charge for 2009 will be Euro 7.2m +++ France - Tough new invoice requirements to help combat fraud +++ Taiwan - introduces VAT refunds for non-resident businesses +++ France - French Motor Insurance Parafiscal Charge hike from 0.1% to 0.6% +++ France - Natural Disaster Compensation Scheme has increased again from 8% to 12% +++ France - New information requirements for foreign companies applying for non-resident VAT registrations +++ Taiwan - introduces VAT refunds for non-resident businesses +++ France - Confirmation of changes to ACOSS levies, which are now managed by URSSAF +++ Germany - New IPT levy on Surety and Financial Guarantee reinsurance +++ India - sets CENVAT at 10.3% Germany - valid VAT number may not be sufficient evidence alone to allow for zero rating on intra-community supply +++ Germany - proposal to scap the requirement for annual VAT returns +++ Greece - withdrawal of Stamp Duty underway; Life and Damage insurance now exempt +++ Hungary - rules on tax point (now when invoice paid) creates risks for VAT recovery +++ India - many new activities brought into Service Tax regime +++ Hungary - Aircraft hull and aviation liability is now exempt from the 1.5% Fire Brigade Charge +++ Ireland - New retrictions on VAT relief on bad debts +++ Ireland - government insurance levy on non-Life increases from 2% to 3%; new 1% levy on Life +++ Mexico - simplification of VAT reporting +++ Italy - Hunting Accident Victims' Fund changed to 5% of 94% of premium +++ Italy - Scraping of the requirement on VAT-registered businesses for the annual filing of lists of customers and suppliers +++ Italy - Court ruling that VAT reclaims deadline should be two years +++ Italy - potential to defer VAT payments to point where cash received +++ Latvia - standard rate VAT increased by 3% to 21% from Jan 2009 +++ Latvia - 2% VAT increase to take standard rate to 23% from 2010 +++ Luxembourg - Fiscal representation revived for importers of goods +++ Luxembourg - international shipping vessels registered in Lux are IPT exempt +++ Netherlands, The - Tax authorities increase IPT rate from 7% to 7.5% +++ Poland - Potential for quarterly VAT returns +++ Poland - Plans for reverse charge on consignment stock +++ Poland - New 12% Parafiscal Charge on Motor Liability contracts to cover medical care at accidents +++ Poland - improved import VAT set-off scheme for established importers +++ Poland - Polish insurance chamber of commerce says 12% levy on 3rd party motor insurance to go +++ Poland - motor liability insurance is now exempt from the Fire Brigade Tax +++ Romania - Proposals being drawn up with the World Bank for new compulsory national catastrophe program +++ Romania - invoice issuing deadline has been extended to 15 days after the month of the taxable supply +++ Slovakia - adoption of the Euro brings new VAT return form +++ Slovakia - calls for increased VAT rate from the IMF +++ Spain - switch from quarterly to monthly VAT returns proposed +++ Spain - online submissions for non-residents; local bank account still required +++ Sweden - IPT now introduced at 32% of gross premiums on 3rd party liability risks +++ Sweden - group life insurance from Swedish or EU insurers is exempt from IPT +++ Switzerland - VAT rate increase to 8% in 2011 +++ Ukraine - VAT e-filling obligatory +++ United Kingdom - VAT registration threshold increased to GBP70k +++ Seychelles - introduction of VAT at 10% in 2012 +++ Jersey - call for rise in 3% VAT rate +++ Romania - imposes intra-community supply registers +++ India - GST implementation now planned for April 2011 +++ UK - wins ECJ case on restricting VAT refunds to non-EU banks and insurers +++

Norway VAT

In Norway, VAT (or ‘Merverdiavgift’) was introduced in 1970. Norway's VAT has been a local system for the past 40 years after Norway chose not to join the European Community in 1972.

Click here if you would like free guidance on Norwegian VAT compliance - including fiscal representation.

Requirement to register for norwegian vat

For foreign companies making taxable supplies in Norway, there may be a statutory obligation to register for VAT. This includes the ongoing compliance requirements to file periodic tax returns and pay over any VAT due to the Norwegian tax office.

Typical situations requiring a Norwegian VAT registration include:

Where goods are delivered within Norway;
If the foreign trader imports, installs or assembles goods in Norway;
Export of goods from Norway;
Supplies of services, e.g, consulting services, sport and entertainment events.

Norweigan VAT registration threshold

There is an annual VAT registration threshold of NOK 50,000 (approx EUR 6,000), based on current turnover. It is not compulsory to register if your annual sales turnover is below this amount.

Many companies below this level, however, elect for a voluntary VAT registration. This enables them to claim back any Norwegian VAT incurred during the supply of the goods or services. For example, VAT on the import of goods, or local sub-contractor invoices.

Companies may also voluntarily register are if they make only exempt supplies.

Norwegian VAT Registration

A foreign company may register for VAT without the requirement to form a local company; however they must appoint a Norwegian VAT Representative. The representative and company are jointly liable for the reporting and payment of VAT to the Norwegian authorities. In addition, the agent is responsible for all communications between the company and the Norwegian tax authorities.

Norwegian VAT compliance

In Norway it is a requirement for the VAT Representative to raise and issue all invoices on behalf of the non-resident trader, indicating both the trader’s and the representative’s details.

There are detailed rules controlling the recording and processing of Norwegian transactions. These include guidelines on:

Norwegian invoice requirements;
Foreign currency reporting and translation;
Credit notes and corrections; and
What accounting records must be maintained.

VAT Rates in norway

The standard VAT rate in Norway is 25%. There is a reduced rate of 14% for food and drink. There is also an 8% VAT rate for: passenger transport; hotel accommodation; and other.

There are many variations to the rates above, including exempt taxable supplies. Click here for more details.
enquiries@tmf-vat.com

Norwegian vat returns

Periodic VAT returns must be submitted by all companies with a Norwegian VAT number, detailing all taxable supplies (sales) and inputs (costs). Generally, returns are submitted bi-monthly in Norway. VAT returns in Norway are due one month and ten days after the reporting period.

Payments of any associated VAT liability must be paid by the return deadline. In the case of a tax credit (where the VAT incurred by the company exceeds the VAT charged on its sales in the reporting period), approved credits will be paid over to the company within three weeks of the return deadline.

Norwegian vat recovery

It is possible for foreign businesses to apply for a VAT refund in Norway, along the lines of the European Union’s 8^th & 13^th VAT Directives. The following conditions should be fulfilled for a foreign business to recover VAT refunds in Norway:

the company is not liable to be VAT registered in Norway;
the VAT is concerned with the applicant’s business activities; and
original invoices showing Norwegian VAT can be provided.

How TMF VAT can help in norway

TMF can help ensure non-resident companies are fully compliant for Norwegian VAT, and are able to keep any cash flow impact to a minimum. With local professionals on the ground in Oslo, TMF is in regular touch with the tax office, meaning it is often able to get the best settlement possible on behalf of its clients.

VAT services that TMF Norway provide include:

Full Fiscal Representation service;
Registering companies with the tax authorities;
- Up-to-date guidance on VAT compliance regulations, including invoicing formats and exchange rate conversion rules;
- VAT filings and payments;
- Organising repayments of VAT credits; and
- Liaising with the tax authorities, and fielding any queries or tax audits.

To learn more about TMF VAT Co-ordination, contact us:

enquiries@tmf-vat.com

+44 (0)870 067 8881