Norway Plans Zero VAT Rate For Digital News
The Norwegian Government has announced that it will levy a zero percent rate of value-added tax (VAT) on digital news, to level the industry playing field.
The rate will be installed in 2016 at a cost of NOK350m (USD41.8m) that year, the Government said.
Norway will notify the European Free Trade Association’s Surveillance Authority of its plans as soon as possible. Amendments to VAT law would be submitted to Parliament simultaneously with the state Budget for 2016, which was released recently and includes plans to increase the eight percent reduced rate of VAT to ten percent from January 1, 2016.
The Government has also announced that it will boost funding for the VAT compensation scheme for sports activities from NOK100m to NOK142.9m. This supports VAT recovery for not-for-profit taxpayers that incur VAT on certain sporting facility construction projects or on purchases of gaming equipment.
Source: Tax News – Norway Plans Zero VAT Rate For Digital News
