Norway Parliament Considers 2021 State Budget Bill

The Norwegian Parliament (Stortinget) Oct. 7 accepted for consideration Bill No. Prop. 1 LS (2020–2021), to establish the 2021 State Budget. The bill includes measures to: 1) introduce a 15 percent withholding tax on royalties and rent payments for companies to prevent profit-shifting to low-tax jurisdictions; 2) introduce a tax on waste incineration; 3) reduce property taxes for primary residences and vacation homes; 4) repeal the inheritance tax for deaths prior to 2014; 5) increase the general tax level on non-quota emissions of greenhouse gases; 6) increase the tax rate for employees purchasing shares in their employer company to 25 ...