News Share

The Tax Hub

Daily Tax Newsletter

Norway

28 September 2021

Responsive image

EFTA Approves Renewal of Temporary Amendments to Norway's Tax Refund Scheme for Seafarers to Offset the Impact of the COVID-19 Pandemic

The EFTA Surveillance Authority (ESA) announced on 21 September 2021 that it has approved the renewal of temporary amendments to Norway's tax refund scheme for seafarers to offset the impact of the COVID-19 Pandemic.

---

COVID-19 pandemic: ESA approves renewal of temporary amendments to Norwegian tax refund scheme for seafarers

The EFTA Surveillance Authority has today approved the renewal of temporary amendments to a Norwegian aid scheme granting tax refunds to shipping companies aimed at off-setting the impact of the COVID-19 pandemic.

The scheme, which initially came into force in 2016 and is set to run until 2026, allows shipping companies to get refunds for taxes and social-security contributions paid for seafarers working on ships registered in Norway.

ESA has previously approved two temporary amendments to the scheme covering the periods July-August 2020, and January-June 2021.

Those amendments aimed to ensure that companies could continue their maritime transport activities during the COVID-19 pandemic by reducing the costs for shipping companies employing EEA nationals on vessels registered in Norway. The amendments temporarily lifted ceilings in the scheme that would otherwise limit refunds of taxes and social security contributions paid for EEA seafarers in:

  • Maritime transport related to petroleum activity;
  • Certain transport of goods and passengers, and;
  • Shipping related to construction and maintenance work.

By ESA's decision today, these amendments have been extended to also cover activity in July and August 2021, entailing an estimated NOK 90 million (EUR 8.8m) increase in budgeted refunds.

ESA's decision can be found here.

Powerful Tax Tools

NEW

FX Rates

Global FX Rates including Tax Year Average FX Rates and Spot Rates for all Reporting Currencies.

NEW

Corporate Tax Rates

Corporate tax rates, surtaxes, and effective tax rates for the current year, as well as historical rates and approved future rates.

NEW

Country Analysis

Detailed tax guidance for companies doing business in over 100 countries, including summaries and snapshots of key tax facts and issues.

NEW

Cross Border Tax Calculator

Calculate total tax costs and benefits of a cross border transaction including withholding tax, participation exemption and foreign tax credit rules.

NEW

Cross Border Tax Rates

Provides Domestic, treaty and EU cross border tax rates for over 5,000 country combinations for 9 different payment streams.

NEW

OECD BEPS Project

Complete overview of the OECD BEPS Project, including daily BEPS news, country adoption of BEPS measures, and an overview of the 15 BEPS Actions.

NEW

Tax Calendar

Customizable calendar tool that tracks corporate income tax, value added tax and transfer pricing obligations by country or entity.

NEW

Tax Forms

English translations of key tax forms for over 80 countries, including tax return forms, treaty benefit forms, withholding tax forms, and more.

NEW

Worldwide Tax Treaties

Repository including thousands of tax treaties (in English), OECD, UN and US Models, relevant EU Directives, Technical Explanations, and more.

NEW

Worldwide Tax Planner

Calculates the worldwide tax cost of what-if scenarios based on legal entity structure, taxable income, and cross border transactions.

NEW

Certified Rates Report

Customizable Certified Rates Report providing updated corporate and withholding tax rates at the end of each month for over 100 countries.

NEW

Withholding Tax Minimizer

Enables quick calculation of tax costs and benefits of cross border transactions considering all possible transaction combinations and optimal routes.

NEW

VAT Rates

Provides value added tax (VAT) rates, goods and services tax (GST) rates and other indirect tax rates for over 100 countries.

NEW

NOL Calculator

Country specific calculator to determine how net operating losses can be utilized in carryback and carryforward years.

NEW

Transfer Pricing Calculator

Calculates TP ratios under various TP methods and calculates the difference between target ratios and actual ratios.

NEW

Individual Income Tax Rates

Individual tax rates for over 100 countries.

Play of the Day

Compare Forms

English translations of key tax forms for over 80 countries, including tax return forms, treaty benefit forms, withholding tax forms, and more.

We’re here to help

We’re here to answer any questions you have about the Orbitax products and services.

Send us a message

Who’s behind Orbitax?

We’re committed to providing high value, low cost tax research and management solutions.

Learn More