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Political Agreement Reached on Norwegian Tax Reform including a Corporate Tax Rate Cut and Implementation of BEPS Measures

01 June 2016

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Proposed Changes

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Norway

Norway's political parties have reportedly reached agreement on a number of tax reform actions. Some of the main actions agreed to include: Reducing the corporate tax rate from 25% to 23% by 2018; Expanding the 25% of EBITDA interest deduction limit on related-party loans to also cover third-party loans, while including special provisions to limit impact on ordinary commercial lending; Introducing a tax on financial services to be effective from 2017; Introduction a new anti-avoidance standard, that may include the requirement for taxpayers to disclose the purpose of transactions; and Implementing measures from the BEPS Project, including Country-by-Country reporting. Each...