Norway has unveiling a package of measures which includes a value-added tax cut for certain industries, and the postponement of advance tax deadlines.
These new measures are as follows:
A further reduction in VAT for certain industry sectors, including passenger transport, accommodation and parts of the cultural sector, whose supplies are typically subject to a 12 percent VAT rate. The rate was previously lowered to eight percent but the Government has decided to lower this rate still, to seven percent, for transactions during the period April 1, 2020, to October 31, 2020.
For personal taxpayers, the first instalment of advance tax is postponed from March 15 to May 1, 2020, with the second instalment postponed from May 15 to July 15, 2020.
For corporate taxpayers, the second instalment of advance tax is postponed from April 15 to September 1, 2020, although electric power enterprises … Read More »