Category Taxation in Norway

Heavy EVs To Be Taxed in Norway

October 17, 2017 Taxation in Norway

Tesla taxOSLO – Heavy teslas will soon be taxed more to compensate for the damage they cause to roads in Norway.

Last week it was unveiled that Norway was evaluating the possibility of introducing a tax on electric vehicles, as part of the 2018 national budget.

Currently, Norway is regarded as being one of the most EV-friendly countries in the world, with significant tax and infrastructural advantages for EV owners.

It is estimated that there are approximately 215.6 electric and hybrid cars in the country for every 10 000 residents.

Further, approximately 35 percent of new cars sold in Norway now are at least partially electrified.

The new tax would be levied as a one-time fee for the registration of an electric vehicle which exceeds 2 tonnes in weight.

Experts have estimated that the measure w...

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Wealthy Danes Dodge a Third of Their Taxes

June 2, 2017 Taxation in DenmarkTaxation in Norway

Tax Evasion in ScandanaviaCOPENHAGEN – Wealthy taxpayers are much more likely to avoid significant portions of their tax obligations, with the wealthiest people in Scandanvian countries skipping out on nearly a third of the taxes they owe.

Late last month researches from Norway and Denmark published an academic article showing that the propensity to evade personal tax obligations rises steeply with wealth.

The researchers used data made available in the Panama Papers and cross-referenced them with information made publically available by local tax authorities about individual taxpayers, in order to estimate how much tax was evaded by wealthy individuals.

It was found that in Norway, Sweden, and Denmark the richest 0...

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Norway Hikes Oil Taxes

May 6, 2013 Taxation in Norway

Jens StoltenbergOSLO – New hikes to taxes on profits earned by the oil industry in Norway are set to fund a tax cut for all other businesses in the country.

In a press conference held on May 5th in Oslo the Prime Minister of Norway Jens Stoltenberg announced that the country’s corporate tax rate would soon be dropped from 28 percent to 27 percent, but the tax obligations faced by businesses in the oil industry would be increased.

The cut to the corporate tax rate will cost the government approximately NOK 3 billion, but the move is expected to boost economic activity around the country.

To fund the cut to corporate taxes, the special petroleum tax levied on profits drawn by oil extractors will be raised from 50 percent to 51 percent.

The subsidies provided to oil companies will also be reduced, with the...

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OECD and COE to Amend International Tax Treaty

April 7, 2010 International Tax CooperationOffshore BankingOffshore TaxationTaxation in BelgiumTaxation in FranceTaxation in IcelandTaxation in ItalyTaxation in NetherlandsTaxation in NorwayTaxation in SweedenTaxation in UKTaxation in USA

Council of Europe - 60 years oldAn agreement has been reached by the Organization for Economic Cooperation and Development (OECD) and the Council of Europe to amend the Convention on Mutual Administrative Assistance in Tax Matters (CMAAT).

On April 6th the OECD and Council of Europe released a media statement announcing that the CMAAT will be updated in order to bring it up to currently agreed upon standards of international tax transparency. The Convention, opened for signing in 1988, is an international framework which provides facilitation of multinational exchange of fiscal information. The Convention will be updated to reflect modern internationally agreed upon standards in tax transparency and exchange of fiscal information...

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International Tax Transparency Reviews Start

March 19, 2010 International Tax CooperationTaxation in AustraliaTaxation in CanadaTaxation in Cayman IslandsTaxation in EUTaxation in GermanyTaxation in IndiaTaxation in IrelandTaxation in MonacoTaxation in Norway

Globalforum 2009The international fight against cross-border tax evasion has taken a step forward with the initiation of a peer review group which aims to assess the progress made by nations in implementing internationally agreed standards of tax transparency.

On March 18th the Organization for Economic Cooperation and Development (OECD) announced the initiation of the first step in the most extensive and through international tax transparency assesment process that has ever been undertaken. Eighteen nations from the 91 participating members of the Global Forum on Transparency and Exchange of Information will soon undergo extensive analysis to determine the adequacy of their efforts to implement internationally agreed upon taxation standards, such as the effectiveness of the bilateral Tax Information Exch...

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