Government measures in key jurisdictions 3rd edition final - Flipbook - Page 95
Norway
Tax
Has any new
legislation been
introduced in light
of Covid-19?
The date for payment of income tax was postponed from 15 April 2020 to 1 September 2020. Advance tax
payments for self-employed persons which was due on 15 March 2020 was deferred until 4 May 2020,
and payments due 15 May 2020 was deferred until 15 July 2020. The government also postpone the
statutory due date for payment of Value Added Tax for the 1st VTA term (Jan-Feb) of 2020. The statutory
due date is 10 April, but this due date was postponed until 10 June 2020.
The Parliament resolved on 21 March 2020 to lower the reduced VAT rate of 12% applicable to passenger
traffic hotels, broadcasting, movie theatres, sporting events, amusement parks and adventure centres, to
6%. The change will be effective as of 1 April 2020 until 31 October 2020. Business registered for Value
Added Tax purchasing such as services during this period, who are invoiced with Value Added Tax at rate
12% instead of 6%, will not be entitled to deduct the full Value Added Tax amount – only the part of 6%.
To avoid that the non-deductible amount becomes a cost, the purchaser must require the seller to issue a
credit note and new invoice with the correct Value Added Tax rate of 6%.
The government has proposed to defer payment of the employer's national insurance contribution falling
due on 15 March 2020 to 15 August 2020.
Company
law matters
Have any measures
been put in place to
accommodate social
distancing (such as
remote general
meetings)?
In particular, the following temporary simplifications in relation to corporate activities have been
adopted.
Private limited liability- and public limited liability companies (AS, ASA and SE) may hold both board
meetings and general meetings virtually. The board of directors shall ensure that, to the extent
possible, all board members participate at the board meetings. Moreover, the board of directors shall
ensure that all shareholders can participate at the general meeting and that participation and voting is
controlled in a satisfactory manner. The temporary simplifications will remain in effect as it stands until
1 November 2020
Government measures in key jurisdictions
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