Norway MOF Seeks Comments on Draft Proposal to Amend Cross-Border Merger Tax Rules

The Norwegian Ministry of Finance Sept. 22 opened a consultation on a draft proposal to amend the tax rules for cross-border mergers, demergers, and share exchanges. The draft proposal includes measures that would: 1) abolish the condition of fiscal neutrality for nonresident companies engaged in reorganization transactions with Norwegian companies; 2) safeguard the Norwegian tax base through the taxation of income and wealth earned in Norway; and 3) simplify the tax rules concerning cross-border transactions, which would facilitate tax exemptions on such transactions. The amendments would take effect from tax year 2022. Comments are due Dec. 22. [Norway, Government Portal, ...