On 13 March 2020, the government of Norway presented proposals to amend the income tax law in response to the coronavirus (COVID-19) epidemic. The proposal includes; (i) Allow the application of up to NOK 30 million of corporate losses in 2020 against taxed profits the previous two years. (ii) Allow deferred payments of wealth tax on business assets for the 2020 financial year. In addition, certain businesses that were to pay their first installment of withholding tax on 15 March will be granted more time (until 1 May 2020).
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