VAT regulations are constantly changing – especially when it comes to the development and management of commercial properties. This can result is substantial extra costs if overall solutions are not set up at an early stage for the management and organisation of the business.
The delimitation of taxable and non-taxable activities, and with trading and transactions across national borders, is wholly essential for secure and profitable operations. This is also applicable to correct reporting and calculation of VAT.
The lawyers at Føyen Torkildsen recommend that businesses define their company structure such that due consideration is given to combining finances, management, tax and VAT in an overall solution.