Norwegian Tax Commission Proposes Tax Reform

A Norwegian tax commission has recently submitted its report to the Minister of Finance including several proposal for changes to the country's tax system. The main proposals include:

• Reducing the corporate tax rate from 27% to 20%
• Limiting the deduction of all interest costs to 45% of earnings before interest and tax
• Increasing share dividends and capital gains taxation
• Introducing withholding tax on interest and royalties, and repealing the withholding tax on dividends
• Introducing VAT for …