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Government compensates SMBs that have 30% or more in revenue loss due to COVID-19

Tax exemption for some payments in kind

Dividend is adopted by the company's general meeting and is taxable, if not tax exempt, at the time of the general meeting even though the dividend is paid out later.

In a pressconference on Friday the government has introduced further releifs for businesses. The main measures are related to a delayed date of payment for many of the direct and indirecet taxes for businesses. Please be aware that the filing deadlines have not been changed only the payment deadlines are postponed. In addItion the authorities have taken further measures by stopping the fines for late submission of several tax and indirect tax reports. Lastly, some indirect taxes will be reduced for a limited time period to help businesses in this crisis situation.

CASH RELIEF - The latest update of measures taken by the Norwegian government

In a press release on March 25, the tax authority informed that the tax authority will temporarily stop the use of penalty for late filing due to the corona pandemic. This applies to late filing of payroll reporting, VAT returns and tax return for self-employed and limited liability companies.

The Norwegian Government has agreed on part 2 of the coronavirus crisis package

Coronavirus - information

New withholding tax regulations with effect from 1 January 2019 regarding foreign workers The new regulations will make it easier for many foreign workers coming to work on short term in Norway.

To be able to complete the ambitious vision, it was important to make sure our culture and values supported our goal- EVERYONE should live up to their POTENTIAL.

What can a professional service firm learn from an Olympic medalist. A professional service firm’s key to success is to developing people to reach their potential. We have to look for people with a mindset for growth and strong conscientiousness when we are hiring. We have to create a work environment which supports and gives fuel to innovative people who are driven by passion.

As an entrepreneur, the important thing is that you enjoy what you are doing. We love what we do, and Varsity is always on our minds”, explains Alexander, who is now working in Varsity's newly opened shop in fashionable Theatrinerstrasse, where Munich's 1.5 million inhabitants now get to buy premium caps from Norway.