Norway Tax Agency Clarifies VAT Treatment for Securities Trading Services

The Norwegian Tax Administration Jan. 19 posted online a binding advance statement clarifying the VAT treatment of a company’s securities trading service in Norway. The taxpayer, an international investment platform company, planned to provide securities trading services to a large Norwegian financial institution. The company sought clarification on whether the securities trading service would be tax-exempt, and on whether the consideration collected in the integration phase served as an advance payment for future tax-exempt services. The Tax Agency found that: 1) the company’s securities trading service would be subject to tax exemption under the Value Added Tax Act; 2) if ...