Norway: BEPS multilateral instrument (MLI) enters into force

20 November, 2019

On 1 November 2019, the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI) entered into force for Norway. On 17 July 2019, Norway deposited its instrument of ratification regarding

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Norway proposes to amends interest deduction limitation rules and R&D incentive scheme

24 October, 2019

On 7 October 2019, the Ministry of Finance presented its budget proposal for fiscal year 2020. The budget proposed to amends the interest expense deduction limitation rules and the Norwegian research and development (R&D) incentive scheme.

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Norway revises list of low tax jurisdictions

09 October, 2019

On 26 September 2019, Norway published a regulation amending the list of low tax jurisdictions for tax purposes. The list applies both to taxation of income and losses on investments in low-tax countries. The countries which are considered as

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Norway launches a consultation proposal on changes to the group contribution rules

29 August, 2019

On 13 August 2019, the Ministry of Finance published a proposal to amend the group contribution rules regarding EFTA Court rule of 13th September 2017, which found that Norway's rule violated freedom of establishment rights in cases where there is

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Norway deposits ratification instrument for MLI

14 August, 2019

On 17 July 2019, Norway deposited its instrument of ratification for the multilateral convention to implement tax treaty related measures to prevent base erosion and profit shifting (MLI). The MLI will enter into force on 1 November 2019 for

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Norway: MoF sets a late payment interest rate for July to December 2018

08 July, 2018

The Ministry of Finance (Mof) has published a regulation to set the late interest rate for the second half of 2018 (from 1st July 2018 to 31st December 2018). The interest rate is set at 8.50% from 1st July 2018 to 31st December 2018, which is

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Norway: Government releases the revised budget for 2018

30 May, 2018

The government of Norway released the revised Budget for 2018, which was approved by the Norwegian Cabinet on 15th May 2018. In the revised 2018 budget, the Government is proposing an increase of NOK 130 million in funding for the development

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Norway meets most of the elements of the action 14 minimum standard

20 March, 2018

As per the third batch of peer review reports published by the OECD, Norway meets most of the elements of the Action 14 minimum standard. In the next stage of the peer review process, Norway’s efforts to address any shortcomings identified in its

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OECD: Third round of peer reviews on dispute resolution mechanisms

16 March, 2018

On 12 March 2018 the OECD released the third round of peer reviews relating to improving tax dispute resolution mechanisms to make them more timely, relevant and effective. Action 14 of the action plan on base erosion and profit shifting (BEPS) was

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Norway: Government publishes new guidance on MAP

19 February, 2018

The Norwegian Government published detailed taxpayer guidance on the mutual agreement procedure (MAP) framework set out in Norway’s tax treaties on 7th February 2018. It is an instrument which shall ensure that states apply the tax treaties

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Norway publishes updated guidelines on CbC reporting

27 November, 2017

The Tax and Customs Administration issued updated guidelines for the submission of the country-by-country reporting form RF-1352 (CbC) on 17th November 2017. According to the guidelines, CbC reports must be submitted by 31st December

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Norway: Government publishes tax proposal in Budget 2018

31 October, 2017

On 12 October 2017, the Norwegian Government published its proposal for the 2018 Fiscal Budget. The following tax measures are proposed in the Budget. The government has proposed to reduce the general corporate tax rate from 24% to 23% with

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Norway: Proposal to increase VAT rate

24 October, 2017

Norway has proposed to increase the reduced rate of VAT, as from 1 January 2018 by 10% to 12%. Reduced value-added tax is applicable to the public transport, hotel accommodation, and access to cinemas, museums and amusement parks, but the standard

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China and Norway agree to renegotiate DTA

28 September, 2017

On 27 September 2017, during a meeting between China’s tax Minister Wang Jun and Norway’s Finance Minister Siv Jensen they agreed to renegotiate the Double Taxation Agreement (DTA) between the two countries. "I am pleased that we agree to start

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U.S. and Norway sign agreement on the exchange of CbC reports

27 July, 2017

According to an IRS announcement on its website, the competent authorities of the U.S. and Norway have concluded an arrangement on the exchange of Country-by-Country Reports. The competent authority arrangement (CAA) for exchange of

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DTA Negotiation between China and Norway underway

10 July, 2017

On 7 July 2017, the Finance Ministers of China and Norway met in Hamburg in the margins of the G20 Summit. The ministers discussed the global economic situation and the strong economic links between the two countries. The ministers also recognized

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Norway proposes changes to the earnings stripping rules

20 May, 2017

Norwegian Ministry of Finance has issued a discussion paper on 4th May 2017, that proposes changes to the earnings stripping rules which further extends the limitation to also include interest costs on unrelated party debt at 25% .  The new

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Norway: Exemption from withholding tax applies

18 May, 2017

The tax authorities released a "binding advance ruling" (BFU / 17, 4 May 2017) regarding application of a domestic exemption from dividends to an Irish holding company. The judgment provides that the dividends paid by the Norwegian company to the

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