Following new tax guidelines in Norway in 2012, a lot of the worldwide operation of Statoil was pushed from the Netherlands. The aim was to keep away from double taxation.
Worldwide operations in international locations reminiscent of Brazil, Canada, Venezuela, the United Arab Emirates, India and Turkey are managed from an workplace of 15 staff in Rotterdam, which additionally manages 39 completely different holding corporations for Statoil, reported Dagens Næringsliv newspaper.
Although Statoil has minimal exercise within the Netherlands, the corporate has over the previous 4 years wiped a number of billion kroner off its tax invoice by the Rotterdam workplace to international locations throughout the globe, the newspaper writes.
A Norwegian tax reform from 2012 meant that Statoil may not deduct prices of international operations in opposition to the Norwegian taxes paid by the corporate.
Statoil, which owns 67% of the state, due to this fact selected to arrange its personal workplace within the Netherlands to keep away from paying double tax.
‘General, I’d say that we keep away from double taxation on prime of the tax burden we have already got. We need to keep away from taxing the identical earnings a number of occasions over, after we’ve already been taxed a excessive share within the nation the place the earnings was created,’ stated Finn Lexow, the tax director at Statoil.
‘Norway loses nothing on this. However we keep away from double taxation on our manner residence’, stated Lexow.
The Ministry of Finance doesn’t need to touch upon Statoil’s business assessments, however Secretary of State, Jørgen Næsje of Fremskrittspartiet (Frp), rejected that Statoil needed to pay tax on international earnings that had already been taxed.
© NTB Scanpix / Norway At present
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