Norway: New government publishes its tax plans
The leaders of Norway's new minority government announced a common general tax platform for the next 4 years, on 7 October 2013. The main plans are summarized below. Individual taxation The new government plans to reduce the tax burden on
See MoreBudget for Norway- 2014 presented to parliament
The Budget for 2014 was presented to parliament on 14 October 2013. Details of the Budget in respect of direct taxation, which will generally apply as from 1 January 2014, if adopted, are summarized below. Corporate taxation The proposals
See MoreNorway : Tax Cut Plan for 2014
The Norwegian Prime Minister announced plans on 5 May 2013 for a modest tax cut for mainland businesses and for increasing taxes on oil companies and multinationals. This plan includes a reduction in the general corporate tax to 27% from 28%
See MoreNorway: Interest deduction limitation proposed
On 11 April 2013 the Norwegian Ministry of Finance published a legislative proposal and invited public submissions on the introduction of an interest deduction limitation for loans between related persons. The proposed limitation applies where there
See MoreUK: new double tax treaty with Norway
On 14 March 2013 the UK signed a new double taxation treaty with Norway. When the treaty enters into force it will replace the current treaty which was signed in 2000. The treaty generally follows the provisions of the OECD Model and incorporates
See MoreMalta and Norway DTA enters into force
A double tax agreement (DTA) between the Government of Malta and the Norwegian Government, signed on 30 March 2012, entered into force on 14 February 2013. New provision will come into application from 1 January, 2014 and these will replace the old
See MoreNorway: the amount of transfer pricing adjustments doubles
On June 22, 2012 the Norwegian tax authorities (Skatteetaten) announced total transfer pricing adjustments for 2012 of NOK 16.6 billion (approximately U.S. $ 2.8 billion / € 2.2 billion), whereas, in 2010, the total amount was NOK 8.5 billion. In
See MoreNorway Unveils ‘Neutral’ 2013 Budget
It was reported on 11 October 2012 that Norway has unveiled its 2013 budget ahead of next year’s elections, including less fiscal stimulus than previously expected. As part of its 2013 budget, Norway is set to double its carbon taxes on oil firms
See MoreDTA between Portugal and Norway will enter into force
According to the Norwegian government, the double taxation agreement (DTA) between Portugal and Norway, signed on March 10, 2011, will enter into force on June 15,
See MoreNorway : Budget Proposals of 2012 has been unveiled
To support a stable economy containing the Norwegian government has recently unveiled details of its 2012 fiscal budget. According to the declaration the overall level of taxation will remain unchanged in 2012. It also notes that there is scope for
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