- The Norwegian Tax Administration clarified how input VAT should be handled for purchases made by an operator on behalf of partners in oil and gas joint ventures holding production licenses.
- Taxable companies in a non-taxable partnership must allocate input VAT deductions according to each company’s actual use of the goods and services.
- The operator cannot claim all input VAT solely because it is the purchaser, even if it has operator status.
Source: news.bloombergtax.com
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.
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