All posts in Taxes and Duties
Investment funds for sale to the general public – in other words, open-ended collective Investment structures of which shares may be redeemed on a regular basis and of which investment objectives are Financial instruments – have traditionally been strictly regulated in Norway.
Since 2012, Norwegian tax authorities have focused on the way Norwegian private equity firms have structured their carried interest payments.
In the State Budget for 2014, last revised on November 8th, the Norwegian Government proposed a restriction on the right to deduction for interest paid to related parties. This new legislation is expected to be effective from January 1th 2014, and will affect international group of companies.
Norwegian politics take a turn to the right with new rightwing coalition government – new possibilities for many market players
On October 16, Norway’s Conservative Party leader Erna Solberg and Progress Party leader Siv Jensen presented a new minority goverment after winning the September 9 election with support from allies in the Parliament. The government took office on 12 noon October 16, with Solberg as Prime Minister and Jensen as new Minister of Finance. The coalition has presented a 75-page platform revealing how it plans to rule Norway over the next four years. Some highlights of particular interest for foreign market players are presented below.
The Ministry of Finance introduces a new collective retirement pension product for the private sector
On 4 October, the Ministry of Finance presented a draft Bill with a new collective tax favourable retirement pension product for the private sector. The new product will be a third alternative to the two other (main) types of tax favourable occupational pension schemes that can be established under Norwegian law.