The Norwegian government has issued a release on new measures to curb the financial impacts of the COVID-19 outbreak. Key tax measures include the following:
Lowering of value added tax reduced rate (new proposal)
The reduced-rate value added tax (VAT) is further reduced from 8 per cent to 7 per cent from 1 April 2020 to 31 October 2020 for industries including tourism and certain sporting activities. These industries generally have a VAT rate of 12 per cent.
Reduced employer contributi…