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Update - Economic Measures in Norway in Response to COVID-19

25 March 2020

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Approved Changes

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Norway

The Norwegian government has issued a release providing an overview of the economic measures being taken in response to COVID-19. With respect to taxation, this includes the following: Change corporate tax regulations so that companies that are lossmaking can re-allocate their loss towards previous years' taxed surplus. Change the tax regulations so that owners of lossmaking companies can postpone payments of wealth tax. Suspend the tax on air passengers for flights in the period from 1 January until 31 October 2020. Suspend payments of aviation charges until 31 June 2020. Reduce the low rate of VAT, which includes passenger transport,...