Value Added Tax (VAT)

The VAT rules and regulations are of significant importance to all enterprises, whether they have activities within or outside the scope of what the VAT Act deem vatable. With a relatively high normal rate of 25 % the main focus has been on the deduction of input VAT, especially for cost-intensive enterprises. Many companies have both vatable and non-vatable activities, which raise particular issues. Lately, the tax administration has been conducting an increasing number of VAT inspections, and even seeming trivial errors can lead to extensive economic consequences. RSM’s team focus on assisting our clients with avoiding errors and keep our attention on the at-risk issues, while at the same time finding the most VAT-efficient approach for the company.

Our solid experience and expertise within the field enables us to assist with specific issues in relations to the tax administration, including obtaining statements of interpretation from the tax administration, appeal cases and other legal procedures.

Typical issues and services in VAT:

  • VAT health check
  • Registration of enterprises, foreign and domestic, in the VAT Register
  • Pre-registration for start-up companies
  • Voluntary registration for VAT for letting of commercial property
  • Termination of enterprises
  • Joint registrations for groups, as well as withdrawal from joint registrations
  • VAT status for financial enterprises/groups, including private equity etc.
  • VAT status for culture and sports enterprises
  • VAT status for associations, organisation and foundations
  • Compensation schemes for municipalities and counties
  • Filling out the VAT forms
  • Formal and material requirements for invoices
  • Deductible VAT
    • Formal and material requirements
    • Calculating allocation key
    • Restructuring
    • Merger and acquisitions
  • Assessment of loss on claim
  • Voluntary correction
  • Cross border trade
  • Import VAT
  • Reverse charge
  • Vat within the EU
  • Reimbursement for VAT for foreign enterprises
  • Export

  

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