Political Agreement Reached on Norwegian Tax Reform including a Corporate Tax Rate Cut and Implementation of BEPS Measures

Norway's political parties have reportedly reached agreement on a number of tax reform actions. Some of the main actions agreed to include:

• Reducing the corporate tax rate from 25% to 23% by 2018;
• Expanding the 25% of EBITDA interest deduction limit on related-party loans to also cover third-party loans, while including special provisions to limit impact on ordinary commercial lending;
• Introducing a tax on financial services to be effective from 2017;
• Introduction a new anti-avoidance standa…