19th April 2017
This tax alert is relevant for non-Norwegian corporations with business activities in Norway in 2016. MSI's Norwegian legal member Magnus Legal provides further information on recent tax changes.
Several of Magnus Legal’s non-Norwegian corporate clients have in previous years succeeded in obtaining an exemption from filing their corporate tax returns in Norway due to a tax treaty, which doesn’t allow Norway to levy corporate taxes. However, for the fiscal year 2016, the tax office will no longer grant such exemption.
The reason for this is that according to the new tax administration law, the tax office is not given any right to grant tax return filing exemptions. It is further important to note that the tax treaties do not govern compliance obligations. Thus, all foreign corporations that have had any kind of activity in Norway, or on the Norwegian continental shelf during 2016, are now obliged to file corporate tax returns. This obligation exists regardless the fact that they are exempt from paying Norwegian corporate tax according to the provisions of a tax treaty.
The due date for filing the 2016 corporate tax return is May 31, 2017.
The tax return must be filed electronically. For late or non-filing, a new penalty regime has been introduced with a ceiling of NOK 52 450 (around Euro 6 000).
For more information or assistance, please contact Mr. Martin Wikborg at Magnus Legal.
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