8 May 2017
Norway's Ministry of Finance has published a consultation document on proposed amendments to the country's income expense deduction restrictions. Under current rules, the deduction of interest on related-party debt is limited to 25% of a taxpayer's EBITDA with an annual de minimis threshold of NOK 5 million for deduction without restriction. The proposed changes include:
The Ministry intends to maintain the current EBITDA percentage (25%) and the 10-year carry forward of excess interest expense. Further the Ministry intends to maintain the exemptions for companies subject to special rules, such as financial institutions and petroleum companies.
Click the following link for the consultation document (Norwegian language). The changes are proposed to apply from the 2018 fiscal year.
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