From January 1, 2017, the Norwegian Tax Administration is introducing an amended VAT return (Skattemelding merverdiavgift).
The amended form allows for import VAT to be accounted for on the return instead of being paid to customs at the point of importation, so as to enable taxpayers who import goods from abroad to offset import VAT against their output VAT liability.
Furthermore, as of 2017, import VAT tax and the VAT tax base are no longer provided in customs declarations. Instead, importers must calculate these amounts for return purposes based on information provided in the customs declaration.
The new form contains 19 boxes instead of the previous 11. Since new content is required, businesses must ensure that their accounting and enterprise resource planning (ERP) systems are able to handle the new reporting specifications and that their VAT codes relating to the new VAT return are up to date.
Even businesses that do not import goods must use the new form and take the necessary administrative measures in order to comply with the new system.
In addition, businesses that import goods must track their monthly transactions so that they can accurately report their import VAT on the new return, since unlike the customs authority, the Norwegian Tax Administration will not provide businesses with a monthly statement of account.
Filing and payment deadlines remain unchanged.
The 19 boxes to be completed are:
A. Total Turnover, Withdrawals from the Business and Imports
Box 1: Total turnover outside the scope of VAT
Box 2: Total sales, withdrawals and imports within the scope of VAT
B. Domestic Sales and Withdrawals
Box 3: Domestic sales and withdrawals subject to 25% VAT
Box 4: Domestic sales and withdrawals subject to 15% VAT
Box 5: Domestic sales and withdrawals subject to 10% VAT
Box 6: Domestic sales and withdrawals subject to zero rate VAT
Box 7: Domestic sales subject to the reverse charge
Box 8: Zero-rated exports of goods and services
D. Importation of Goods
Box 9: Imports of goods subject to 25% VAT
Box 10: Imports of goods subject to 15% VAT
Box 11: Imports of goods subject to zero rate VAT
E. Purchases Subject to the Reverse Charge
Box 12: Purchases of services from abroad subject to 25% VAT
Box 13: Domestic purchases of goods and services subject to 25% VAT
F. Deductible Input VAT on Domestic Purchases
Box 14: Deductible VAT on domestic purchases subject to 25% VAT
Box 15: Deductible VAT on domestic purchases subject to 15% VAT
Box 16: Deductible VAT on domestic purchases subject to 10% VAT
G. Deductible Input VAT on Imports
Box 17: Deductible VAT on imports subject to 25% VAT
Box 18: Deductible VAT on imports subject to 15% VAT
Box 19: VAT Payable or refundable
By Joanna Norland, Technical Tax Editor, Sergeja Krajnc-Gani, Senior Editor, Bloomberg BNA, with contributions from Lee Hadnum, Editor.
For more information about VAT, see the Bloomberg BNA VAT Navigator.
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