On 7 October 2020, the Norwegian government announced the National Budget for 2021. The main proposed tax measure for companies is the introduction of a 15% withholding tax on interest, royalties, and rent payments for certain physical assets paid by companies operating in Norway to related companies in low-tax countries. The withholding tax is meant to counteract the relocation of profits and, if approved, will apply from 1 July 2021.
Other measures include broad reductions in income tax f…