Norwegian Tax Appeals Board Rules VAT Applies to Imported Services in Banking Sector

The Norwegian Tax Administration clarified VAT treatment for imported services in banking.
A bank purchased services from a nonresident subcontractor for financial services.
The bank claimed these services were exempt from VAT as financial services.
The Tax Office disagreed, stating VAT was payable on these services.
The Tax Appeals Board upheld the Tax Office’s decision.
Services from nonresident subcontractors are subject to VAT.
The subcontractor’s services did not qualify as specific and essential for payments.
All conditions for imposing additional VAT were met.

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.