On 14 October 2013 Norway released the 2014 Budget with proposals on new interest deductibility restrictions and reduction of the corporate income tax rate. The Budget includes proposed significant restrictions on the deduction of interest paid to related parties and is broadly in line with the consultative paper published by the Ministry of Finance in April this year.
In addition, the Government proposes to reduce the corporate income tax rate from 28% to 27% with effect from 1 January 2014.
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