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Norway's Tax Blog – tax, VAT and legal matters

Norway's Tax Blog – tax, VAT and legal matters

State budget 2017: Suggested changes in personal taxation

By Kristine Veiteberg Braaten, 06-Oct-2016 18:24:59

The suggested state budget for 2017 was presented today. In the following we present the suggested changes related personal taxation. In short, the suggested changes include reduced tax rates on net income, increase of bracket tax rates (levied on gross employment, self employment and pension income), a higher effective tax rate on share income, new rules for personal share investments, in addition to a few minor adjustments.

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Areas of interest: Personal and payroll tax

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State budget 2017 - Changes in Corporate taxation and introduction of financial activities tax

By Lars Hallvard Walby, 06-Oct-2016 15:35:37

The proposal for the State budget for 2017 contains only minor changes in corporate taxation. As expected the general corporate tax rate is proposed reduced from 25% to 24% from 2017. Further, a financial activities tax is proposed introduced from 2017. No comments are made in the State budget on the expected changes in light of the BEPS project and ongoing international tax developments.

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Areas of interest: Corporate tax

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SAF-T – new reporting obligations that are sweeping across Europe

By Diana Geilhufe, 05-Oct-2016 11:37:37

Standard Audit File for Tax (SAF-T) is an electronic format (.xml) for efficient transfer of accounting data from companies to tax authorities or external auditors. SAF-T was first adopted in Portugal and has further spread to other countries like Austria, Luxembourg, France and recently to Poland and Lithuania. Potentially, as of 1 January 2017 SAF-T will also be implemented in Norway.

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Areas of interest: VAT

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Watch our video on the European Commission's recent State aid decision

By Ståle Wangen, 29-Sep-2016 15:58:24

Further to the recent announcement of the European Commission’s decision in the Apple case, our PwC State Aid Working Group has released a video discussing the background and decision of this case, the taxation implications for other companies and the US reaction. Click here to watch the video.

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Areas of interest: Corporate tax

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Air passenger tax – Do the authorities have control?

By Kjetil Øpstad, 27-Sep-2016 09:30:24

The Air passenger tax was implemented with effect from 1 June this year. After three months, only 23 airlines have registered for the tax. The Tax authorities are now sending letters to companies they believe should be registered as liable. These companies should therefore act quickly to avoid getting too long behind with payments.

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Areas of interest: Customs and duties

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EC final decision on State aid granted to Apple in Ireland

By Hilde Thorstad, 01-Sep-2016 19:44:57

Please read our Newsalert on the recent press release in which the European Commission announced the adoption of its final decision in the formal State aid investigation into the profit attribution arrangements and corporate taxation of Apple in Ireland.

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Areas of interest: Corporate tax

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Large businesses in the UK: publish your tax strategy

By Eivind Faafeng Falck-Ytter, 15-Jul-2016 10:00:00

On 24 June 2016 HMRC published an overview guide for large businesses (with a turnover above £200 million or balance sheet over £2 billion), on the requirement to publish their tax strategy before the end of the next financial year commencing after Royal Assent to Finance Bill 2016, and yearly thereafter.

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Areas of interest: Corporate tax

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IRS publish final regulations on confidential Country-by-Country Reporting

By Eivind Faafeng Falck-Ytter, 14-Jul-2016 10:00:00

On June 30 2016, the Internal Revenue Service published a document containing final regulations that require annual country-by-country reporting by certain United States persons that are the ultimate parent entity of a multinational enterprise group. The final regulations affect United States persons that are the ultimate parent entity of a multinational enterprise group that has annual revenue for the preceding annual accounting period of $850,000,000 or more.

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Areas of interest: Corporate tax

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ECOFIN agrees EU-wide rules in Anti-Tax Avoidance Directive

By Eivind Faafeng Falck-Ytter, 12-Jul-2016 10:00:00

Political agreement on the Anti-Tax Avoidance Directive (ATAD) was reached by the EU Member States in the Council of the EU, meeting through its Economic and Financial Affairs (ECOFIN) Council on 17 June. The agreement was subject to certain reservations which expired on 20 June.

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Areas of interest: Corporate tax

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OECD Council approves incorporation of BEPS amendments into the Transfer Pricing Guidelines

By Eivind Faafeng Falck-Ytter, 11-Jul-2016 10:00:00

On 23 May 2016, the OECD Council approved the amendments to the Transfer Pricing Guidelines as set out in the 2015 BEPS Report on Actions 8-10 "Aligning Transfer Pricing Outcomes with Value Creation" and the 2015 BEPS Report on Action 13 "Transfer Pricing Documentation and Country-by-Country Reporting". These amendments provide further clarity and legal certainty about the status of the BEPS changes to the Transfer Pricing Guidelines, which were endorsed by the Council on 1 October 2015, by the G20 Finance Ministers on 8 October 2015, and by the G20 Leaders on 15-16 November 2015.

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Areas of interest: Corporate tax

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