Norway Cuts VAT, Postpones Taxes to Boost Economy in Pandemic

“The government is following up measures that are targeted and that will help to secure viable businesses and jobs,” Finance Minister Jan Tore Sanner says in a statement on the government’s website. Measures include:

• Cuts the lower value-added tax rate to 8% from 12% in the period from March 20 to Oct. 31
  • Represents temporary tax cut of about NOK1.24 billion in 2020
• Postpones deadline for payment of the first VAT period to June 10 from April 14
• Postpones deadline for payment of the second term withholding tax for companies to Sept. 1 from April 15
• Postpones payment deadline of ...