Norway’s Ministry of Finance has initiated a public consultation regarding the proposed introduction of a 12-month time limit for tax deductions for companies on unrecoverable trade receivables from related parties.
A corresponding time limit is proposed for the duration where trade receivables between related parties can remain unpaid without forfeiting the right to deduct VAT alongside a time limit for interest receivables.
The public consultation is set to conclude on 5 August, 2024.
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