The 2012 worldwide VAT, GST and sales tax guide

N IGERIA – NORWAY 483
Penalties. The following penalties may be issued with respect to
VAT:
• Failure to issue tax invoice: Fine of 50% of the cost of the goods
or services for which a tax invoice was not issued
• Failure to maintain proper records: NGN 2,000 for every month
in which the failure continues
• Failure to submit returns: Fine of NGN 5,000 for every month
in which the failure continues
• Failure to remit VAT: 5% per year of the amount of tax not
remitted plus interest at the bank lending rate
The VAT Act provides a penalty of 5% for late remittance of VAT.
The FIRS Establishment Act provides a penalty of 10% for late
payment of any tax (including VAT). Section 68 of the FIRS
Establishment Act gives it supremacy over other tax laws.
However, in practice, the FIRS applies a penalty of 5% for VAT.
Norway
(Country code 47 )
Oslo GMT +1
Ernst & Young
Street address:
Mail address: Dronning Eufemias gate 6
Oslo Atrium
N-0151 Oslo
P.O. Box 20
Norway
N-0051 Oslo
Norway
Indirect tax contacts
Per Oskar Tobiassen +47 24-00-22-69
Email: per.oskar.tobiassen@no.ey.com
Christin Bøsterud +47 24-00-20-33
Email: christin.bosterud@no.ey.com
Øystein Arff Gulseth +47 24-00-23-87
Email: oystein.arff.gulseth@no.ey.com
Agnete Haugerud +47 24-00-25-18
Email: agnete.haugerud@no.ey.com
A. At a glance
Name of the tax
Value-added tax (VAT)
Local name
Merverdiavgift
Date introduced 1 January 1970
European Union (EU)
member state
No
Administered by
Ministry of Finance
(http://www.skatteetaten.no)
VAT rates
Standard 25%
Reduced 8%/15%
Other
Zero-rated (or exempt with
credit) and exempt without
credit
VAT number format 123 456 789 MVA