On 28 March 2020, the Norwegian government has released new tax relief measures in response to coronavirus pandemic. Accordingly, the 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.
The first instalment due date for advance tax payment is postponed for personal taxpayers from 15 March to 1 May 2020. The second instalment due date for advance tax payment is postponed for personal taxpayers from 15 May to 15 July. The second instalment due date for non-personal taxpayers (companies, etc.) has been postponed from 15 April to 1 September 2020. However, electric power enterprises will not be able to postpone advance tax payment on ordinary income.
