Norway avoids financial services VAT
- Oct 12, 2016 | Richard Asquith
Norway has decided not to charge VAT or a Financial Transaction Tax (FTT) on financial services, mirroring the European Union.
Instead, it will impose a payroll tax of 5% on banks, insurance companies and other companies whose financial services activities are over 30% of their sales. The measure is included within its 2017 budget which comes into force on 1 January 2017.
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