Norway Tax Agency Posts Board Ruling on VAT Treatment of Services Subcontracted From Foreign Suppliers

The Norwegian Tax Administration May 25 posted online Tax Appeals Board Decision No. SKNA1-2022-11, explaining the VAT treatment of services purchased from nonresident subcontractors. The taxpayer was a fund management company that purchased subcontracted services, such as analysis, daily indexing, and trade matching, from a nonresident supplier. The taxpayer sought reimbursement for input VAT on the services. At issue was whether the subcontracted services were exempt from VAT as “management of mutual funds.” The tax appeals board clarified that: 1) services must constitute a separate whole and be specific and essential to the management of investment funds for the exemption ...