Economy

350 kroner limit vat exemption will end soon in Norway

Trading industry’s main organisation, Virke is very pleased that it is likely that VAT exemption for online shopping from abroad will end.
The government parties and KrF agree to reduce the limit of NOK 350 for VAT-free online shopping in the budget deal presented Tuesday evening.

“Everything we have requested is to compete on equal terms and we are pleased that KrF and the other parties to the budget negotiations have understood this,” says Ivar Horneland Kristensen, CEO of Virke.

He believes that the impact means that the Norwegian trading company can compete on equal terms with Alibaba, Wish and other foreign online companies.

“Equal competition is absolutely necessary to avoid a race of lost jobs in the retail industry, where 380,000 people work,” Virke writes in a press release.

According to NRK, the budget agreement means that the 350-krone limit will only disappear from 1 January 2020.

– The removal of the 350-krone limit does not happen a second too soon, Kristensen strikes.

(© NTB)

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