momsreglene

Momsreglene refers to the Norwegian Value Added Tax (VAT) regulations. VAT, or merverdiavgift (mva) in Norwegian, is a consumption tax levied on goods and services. The Momsreglene outline the rules for when VAT is applicable, the different VAT rates, how to register for VAT, and the procedures for reporting and paying VAT.

The standard VAT rate in Norway is currently 25%. However, certain goods and services are subject to reduced rates of 15% or 12%. These include food products (15%) and cultural services and passenger transport (12%). Some goods and services are exempt from VAT altogether.

Businesses that sell taxable goods or services above a certain threshold, which is subject to change, are required to register for VAT. Once registered, businesses must collect VAT from their customers and pay it to the Norwegian Tax Administration (Skatteetaten). They can, however, deduct the VAT they have paid on their own business expenses. This mechanism ensures that the tax burden ultimately falls on the final consumer.

The Momsreglene also detail the invoicing requirements for VAT-registered businesses, including the information that must be present on a VAT invoice. Regular reporting and payment of VAT are mandatory, typically on a bi-monthly or six-monthly basis, depending on the company's turnover. Non-compliance with Momsreglene can result in penalties and interest.