Norway’s finance ministry is to double the tax bill for shipping companies already reeling from the double blow of losing the tonnage tax and the demand for back tax. A letter from the Norwegian finance ministry to one shipping company stipulates that market values rather than book values should be used in calculating owners’ tax liability following the abolition of tonnage tax, which can double the bill owners face to NK40Bn ($7.1Bn).
Tonnage tax: Oslo doubles the pain
Thu 13 Sep, 2007
| Posted in: Compass Points
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