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Norway permitted to extend electric car tax breaks

OLSO: The European free trade association surveillance authority has permitted Norway to extend a series of temporary tax exemptions for zero emission vehicles, including in the area of value-added tax. Under the package of measures designed to encourage more electric car sales, zero emission vehicles will be zero-rated for VAT purposes for a further three years. Additional tax breaks were ... Read More »

Sole traders saving €12k tax on cars

norway

OLSO: A budget measure that has escaped widespread attention means sole traders can save around €12,000 on income tax if they buy an electric vehicle (EV). Under the Accelerated Capital Allowances deal, self employed sole traders who buy an EV can front load the depreciation on the car for the first year and save close to €12,000 on their tax ... Read More »

Statkraft sells 40 per cent share in Sheringham shoal offshore wind farm,

norway

OLSO: Statkraft sells its 40 per cent stake in Sheringham Shoal Offshore Wind Farm to the UK fund manager Equitix. The sale is in line with Statkraft’s strategy to exit offshore wind. Sheringham Shoal Offshore Wind Farm is a 317MW operational wind farm located off the coast of Norfolk in the UK. Statkraft has been a partner in the project ... Read More »

EFTA approves Norway’s tax scheme for share options,

norway

OLSO: The ESA announced in a decision published on December 15 that, following an assessment, the scheme is considered state aid, but not incompatible with the functioning of the European Economic Area Agreement. Under the scheme, the taxation of an employee’s income will be deferred when employees are remunerated in the form of share options, and employees will be taxed ... Read More »

Norway’s economy recovering: IMF

norway

OSLO: Norway’s economy is beginning to recover, says The International Monetary Fund (IMF). The recovery is supported by strong domestic demand and accommodative macroeconomic policies. Today a mission from the International Monetary Fund (IMF) presented its annual assessment of the Norwegian economy and Norwegian economic policy. IMF predicts a GDP growth for mainland Norway of 1¾ per cent this year ... Read More »

New Optimism for Norway’s Oil and Gas Sector,

norway

OLSO: Last week Statoil and its partners decided to develop the Castberg oil field in the Barents Sea in the High North. Huge investments will be required. To me, this is a clear sign of new optimism in the oil and gas sector, Norway’s most important industry. With a production of two million barrels of oil per day, Norway is ... Read More »

Reduced corporate tax rate on Norwegian operations,

norway

OLSO: The Norwegian parliament has today formally approved the state budget for 2018.  In the budget, the corporate tax rate in Norway has been reduced from 24% to 23%. The change in the tax rate will reduce the tax expense to be incurred by Atea in its Norwegian subsidiaries from 2018. At the same time, the change in the tax ... Read More »

Blood flow measurement devices market by price, revenue and gross margin,

norway

OLSO: This report focuses on the U.S. market and presents volume and value of market share by players, by regions, by product type, by consumers and also changes in prices. The Global and Japan Blood Flow Measurement Devices market presents volume and value of market share by players, by regions, by product type, by consumers and also changes in prices. ... Read More »

In Norway, Plug in Hybrids set 4th sales record in a row Tesla Surges,

norway

OLSO: Surprising no one, plug in electric vehicle sales in Norway stay strong in november.  Somewhat interestingly, outside of Tesla, most of the growth was via plug-in hybrid models that set a new sales record for the fourth month in a row. All electric sales were just slightly higher than one year ago, but PHEVs surged by almost 80% to ... Read More »

Jeremy Corbyn to take aim at tax avoidance in speech at UN.

norway

NORWAY: Jeremy Corbyn will describe “grotesque” levels of inequality and mass tax avoidance as among the most pressing challenges faced by the world, in a speech at the UN in Geneva. The labour leader will highlight four main threats faced by humanity: the concentration of wealth and power in a small group, exacerbated by tax avoidance; climate change; the refugee ... Read More »

Jeremy Corbyn to take aim at tax avoidance in speech at UN

norway

OSLO: Jeremy Corbyn will describe “grotesque” levels of inequality and mass tax avoidance as among the most pressing challenges faced by the world, in a speech at the UN in Geneva. The labour leader will highlight four main threats faced by humanity: the concentration of wealth and power in a small group, exacerbated by tax avoidance; climate change; the refugee ... Read More »

Norway’s new tax plan could double electric vehicle unit costs

norway

OSLO: Norway’s  new tax plan could double electric-vehicle unit costs, and add as much as $9,975 to the retail price of the Tesla Model X. Electric vehicle manufacturer Tesla’s faltering market advance across Scandinavia is being further impeded by serial disputes with governments and doubts over pension-fund investments. In Norway, Climate & Environment minister vidar helgesen has put Tesla under ... Read More »

Norway sovereign wealth fund wants forex traders to restore trust

NORWY

  OSLO:  The world’s biggest sovereign wealth fund has urged banks to do more to restore investors’ confidence in the global foreign exchange market after a series of scandals. The $5tn-a-day market for currency trading is dominated by global banks, and Norges Bank Investment Management has taken aim at the controversial practice of “last look”. This type of activity enables ... Read More »

Lessons from Norway-Sweden border for post-Brexit Britain

NORWAY

  OSLO: Scandinavia has a lesson for British customs officials ahead of Brexit: policing the European Union’s outer limits can be hard work. Norway has the closest possible trading relationship with the EU without actually being part of the bloc, but its border with Sweden is still a haven for smugglers that requires an alert and nimble border force. And ... Read More »

EU proposes signing VAT cooperation deal with Norway

NORWAY

  OSLO: The European Commission on October 26, 2017, released a proposal for a EU Council decision on the signing of an administrative cooperation agreement between the EU and Norway, to support value-added tax (VAT) enforcement activities. Negotiations on the agreement were launched in June 2015. The Commission says it will provide EU member states and Norway with a solid ... Read More »

Norway’s unemployment seen falling to 2.4% in 2019

unemployment

OSLO: Norway’s average annual registered unemployment rate will probably drop to 2.5 percent in 2018 from 2.7 percent in 2017 and fall further to 2.4 percent in 2019, the Labour and Welfare Administration (NAV) predicted on Thursday. The forecast for 2018 was cut by 0.1 percentage point compared to a predition made in June. In September, registered unemployment fell to ... Read More »

Norway salmon price seen stable around NOK 49-50 next week

SALMON

OSLO:  The price of Norwegian farmed salmon is expected to remain stable around 49-50 Norwegian crowns per kilo next week for deliveries in Oslo, industry sources told Reuters on Friday. “It’s a quiet market and a wait-and-see attitude, but our view now is that prices will be at around 50 crowns next week,” said a salmon producer who declined to ... Read More »

Tesla tax’ could hit Norway, the world’s top EV market

NORWAY

  OSLO: Norway, which has emerged as the world’s leading market for zero-emission electric vehicles despite also leaning heavily on revenue from oil extraction, may be on the verge of enacting steep cutbacks to some of the tax breaks for Teslas and other EVs. The proposed 2018 budget, released by Norway’s center-right government, would mainly target electrified cars weighing more ... Read More »

Qatar, Norway puts on the brakes but oil cash splurge is hard to kick

OSLO: Putting on the brakes is a relative term in Scandinavia’s richest economy.  The Norwegian government yesterday proposed spending 231.1bn kroner ($29bn) of its oil income and wealth to plug a deficit equal to 7.7% of gross domestic product, roughly unchanged from this year. To do this, it will withdraw 72bn kroner from its massive wealth fund, up from a ... Read More »

Dutch pensioners arrested smuggling 100kgs of hashish into Norway  

norway

  OSLO: A Dutch retired couple have been arrested in Norway for trying to smuggle 100 kilos of cannabis into the country, according to Norwegian media reports. The couple, a man aged 68 and a woman aged 75, had hidden the drugs throughout their car. They were caught following a tip-off trying to enter Norway after travelling by ferry from ... Read More »