On 27 February 2020, the Norwegian Ministry of Finance published a public consultation paper proposing to introduce a withholding tax system for interest and royalty payments to related parties.
The proposal aims to levy a 15% withholding tax on interest payments to related parties in low tax jurisdictions. It is also proposed to impose a 15% withholding tax on payments to non-resident persons for the use of intangible assets.
The deadline for submitting comments regarding the public consultation is 27 May 2020.
