Norway's Budget Bill for 2015 was enacted on 15 December 2014. Changes are made in regard to business taxation, individual taxation and value added tax (VAT). The main changes include:
Business Taxation
- Limited partners are no longer able to deduct partnership losses against ordinary income from other sources, but will instead be able to carry such losses forward to offset future partnership income or gains upon realization of partnership interests
- The deductibility cap for internal R&…