EFTA approves temporary extension of Norwegian tonnage tax scheme

Wilh Wilhelmsen Holding ASA

11/11/2016 15:52

OSLO, Nov 11 (Reuters) - EFTA Surveillance Authority (ESA) 
says: 
    * Has today approved a six-month prolongation of the current 
Norwegian special tax system for shipping 
    * The scheme entails a lower tax for maritime transport 
based on ship weight ("tonnage tax"), resulting in a greatly 
reduced rate from the standard 25 pct corporate tax rate 
    * The current scheme was approved by ESA from 1 January 2007 
until 31 December 2016 
    * ESA is now considering Norway's plans to revise and renew 
the scheme for ten years 
    * The six-month extension allows the current scheme to 
continue until ESA has finalized its assessment of the new 
scheme 
 
 
 (Reporting by Ole Petter Skonnord, editing by Gwladys Fouche) 
 ((olepetter.skonnord@thomsonreuters.com; 0047 23 31 65 97;)) 
 
Keywords: NORWAY EFTA/TAX