Many countries allow for the importation of goods without the payment of import duty or VAT (Sales Tax, GST) for items under a certain value. This is commonly referred to as ‘De Minimis’ or ‘Low Value’.
From 2020, Norway will abolish the exemption of VAT and other indirect taxes on low value goods sent from foreign sellers to consumers in Norway. The intent is to charge VAT for all goods, regardless of value.
The changes will take place in two steps.
- From 1 January 2020, the exemptions for low value goods (goods with a value below 350 NOK) will be abolished for foodstuffs, restricted goods and goods subject to excise duties.
- From 1 April 2020, the exemption for VAT for the remaining goods will be abolished.
Hurricane’s Duty and VAT calculator will help your business stay up to date and maximise your growth opportunities, but also help you remain compliant in the complex world of international trade.
only allow you to maximise your growth opportunities but also help your business remain compliant in the complex world of international trade