Vedum announces new tax for the very largest companies – news Norway – Overview of news from various parts of the country

A global minimum tax will be adopted by the king in the cabinet on Friday, writes E24. Several countries are working to put this in place, to avoid billions being lost to tax havens. The proposal must then be sent to the Storting for final decision. – This will lead to large companies that have operations in various countries, including in tax havens, having to be taxed if they come to a low-tax country. The global minimum load must be 15 percent, says Vedum. Every year, the world’s countries lose enormous tax revenues because global groups transfer profits from high-tax countries to areas and countries that are considered tax havens. Now the countries have come together to try to reduce this loss. The proposal, which the government put out for consultation just before the summer, is based on an OECD-driven international collaboration of around 140 countries which has been named the top-pillar agreement. The international solution that has been chosen requires that the regulations be introduced in the individual country’s national tax rules. An important prerequisite for achieving the purpose of the rules is that they are the same in the countries that introduce them. Vedum estimates that around 40-50 countries will adopt this in their national assemblies before Christmas. – Now we get a common understanding between 40 to 50 countries. If there is a company that operates in Norway and that we know operates in a low-tax country with, for example, 5 per cent tax, then we have a common understanding that in Norway we can order the company to pay the last 10 per cent in tax, says the finance minister. He says that the natural consequence of the new tax rules is that the countries that are so-called tax havens will increase their taxation to 15 per cent in the next round. – Then we can close the loophole. Because it is a loophole for large companies that causes someone to move their profits out. It will be unfair to the system where people pay 22 per cent. The aim of this is that everyone must pay a minimum of 15 per cent, he says.



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