Norwegian Parliament Agrees on VAT Provisions of the 2015 Budget

According to recent reports, the collaborating majority in Norway's parliament has agreed on certain provisions of the country's 2015 Budget concerning value added tax (VAT):

• The VAT registration threshold will be kept at NOK 50,000 instead of the previously proposed increase to NOK 150,000
• The low-value exemption threshold for imported goods will be increased from NOK 200 to NOK 350 instead of NOK 500 as previously proposed

In addition, they have agreed on a 26% weight-based reduction in …