New regulations in Norway and Romania illustrate further regulatory updates impacting European VAT compliance and reporting obligations as tax authorities push towards digitalisation and greater transparency. Our constant monitoring of VAT legislation ensures that ONESOURCE Indirect Compliance continues to support our clients seamlessly through evolving changes.

Below are the specific Norwegian and Romanian VAT changes and relevant updates made to ONESOURCE Indirect Compliance to support the new regulations:

Norway’s new digital VAT reporting requirement

Norway is implementing a new digital VAT return that will take effect on 1 January 2022. As required by Norwegian SAF-T Standards, standard SAF-T VAT codes will be used in the new VAT return.  The impact the reforms will have on reporting for this jurisdiction are:

• The existing VAT return format will be abolished and replaced with a filing more akin to a listing.
• The method of filing will change. Returns will now be submitted in XML format through an e-filing platform. Manual entry or upload of XML files will no longer be allowed.

Romania introduces mandatory SAF-T reporting

• Romania has become the latest European country to mandate SAF-T reporting. The reporting standard will go live for large taxpayers on 1 January 2022 and medium taxpayers in 2023.
• Taxpayers are required to file the SAF-T (D406) either monthly or quarterly, in accordance with their Romanian VAT reporting obligation. However, given that this reporting requirement is complex and new, taxpayers can expect a six month grace period from the authorities while they update their VAT compliance and reporting processes.

How can ONESOURCE Indirect Compliance help with new VAT forms in Norway and Romania?

• The ability to stay compliant with the new Norway VAT return is available with ONESOURCE. We have worked closely with the Norwegian authorities to test submissions to ensure your VAT returns will be compliant beginning in 2022.
• Romania SAF-T reporting is now supported by ONESOURCE. The structure of Romania SAF-T is in line with the OECD SAF-T standards. If you use ONESOURCE for any of the current global SAF-T portfolios, this additional coverage will be an extension, with similar processes, to enable standardisation for your VAT compliance.

Is your tax team equipped to handle the ever-changing world of indirect tax regulations and governments extending their digital footprint? Find out how ONESOURCE Indirect Tax compliance and automation capabilities can assist you with Norway’s SAF-T regulatory changes from January 2020, in our free on-demand webinar Automate Norwegian SAF-T Indirect Tax Compliance

Thomson Reuters will continue to stay abreast of published updates related to SAF-T and new VAT reporting requirements in Europe to support those updates within our indirect tax solutions. If you have questions regarding how to leverage ONESOURCE Indirect Compliance, please contact Customer Support or your ONESOURCE Account Manager.

To help you provide more value to your organization, browse our related resources to keep you up to date on indirect tax technology, tax compliance, and changes in VAT rules:  

• Indirect tax compliance: Go beyond borders with fully automated VAT and GST compliance  
• Indirect tax teams must evolve and keep pace with digital tax reporting requirements worldwide
• What are the new EU VAT rules and how do they impact e-commerce businesses?
• Demystifying the EU’s e-commerce 2021 VAT reforms: Practical steps to compliance
• Top 20 FAQs about the EU VAT One-Stop Shop