Key Benefits:
Law of changes in law 26. March 1999 # 14 about taxes of fortune and income (tax law). |
| Date | LAW-2007-12-14-107 |
| Ministry of | Treasury |
| Last modified | LO-2011-12-09-54 from 01.01.2012 |
| Published | In 2007 booklet 12 |
| Istrontrecation | 01.07.2008, 14.12.2007, 01.01.2008 |
| Changing | LAW-1999-03-26-14 |
| Announcement | 14.12.2007 |
| Card title | Change law to the tax law |
In law 26. March 1999 # 14 about taxes of fortune and income (tax law) are made the following changes :---
At the Commencement of the changes under V Section 8-14, 8-15 and 8-17 applies to the following transition rules :
| (1) For corporations resembling the particular settlement arrangement in accordance with the Tax Act Section 8-10 to 8-20 for the income year 2006, and as for the income year 2007 still to be ligators after the particularly divorced settlement arrangement, it shall be taken revenue settlement per 1. January 2007. The exit value of this revenue settlement is determined to the sum of the cost of the company's financial assets and stocks in companies as mentioned in Section 8-11 first clauses d and g that would be exempt from taxation by realisation after Section 2-38, tax-wise value of other financial assets, and fiscal value per 31. December 2006 of the company's other belongings, frarev tax-wise value of debt. The entrance value is determined to the balance of the account for withheld tax income in the company at the start of the year's start, added previously paid stock price and overbearing. The Ministry can provide regulation on alignment of fiscal values by other periods. |
| (2) The Benefit calculated after the first clause shall be taken on a separate settlement account. The deductions are made in the settlement account for : |
| a. | Benefit that is exempt for tax duty after third clause, |
| b. | correction income after tax law Section 10-5 first clause for revenue year 2007, 2008 and 2009, which is due to the share of remaining untaxed gains calculated after the first clause and no later deductible after the tax law of 10-5 sixth clause, |
| c. | amounts that are income-led by the fifth clause, and |
| d. | amounts that are income-led by the 12th clause. |
| (3) Until one-third of gains calculated after the first clause is exempt for tax duty, so far an amount equal to 28 percent of the gains are used for environmental measures m.v. Releases after the preceding period are provided only for the cost of environmental measures when it before 26. March 2010 has been an unconditional commitment for the tax-maker to cover or make the cost or when it before 26. March 2010 is a binding agreement that involves such an unconditional commitment. The Ministry can provide regulation on qualifying environmental measures m.v. after the preceding period, whether due date for when costs must be incurred, and about income incomes when environmental measures m.v. have not been implemented at the deadline. |
| (4) Loss calculated after the first clause can be conveyed to the deductions in future financial income in the extent that the loss lies within the pre-bart financial deficit per 31. December 2006. |
| (5) At the dividend, the income shall be issued an amount that, after the estimated tax of the gross amount has been drawn from, corresponds to the dividend or concert contribution that has been deposed or distributed. As the output is counted : |
| a. | proposed the dividend of dividends following the apastoral Act Section 8-2 or the Public Emergency Act Section 8-2 at the closure of the company's annual settlement, or |
| b. | passed concert contributions, or |
| c. | dividend dividends during the income year, jf. The tax law Section 10-11, which exceeds last year's proposal from the Board of dividends, or the dividend of more than the stock's relationship share of paid stock equity, herunder overbearing, at the run-down of the stock market by the stock of single-store, jf. The tax law Section 10-37 other joints. |
----
| (6) At the outback of the rederitax arrangement, jf. The tax law Section 8-17 first clause a and b, and by liquidation, any remaining untaxed gain after other clause shall be taken to income in the year of the year. For company that selects a settlement of gains calculated after the first clause, jf. el-levite clause, shall the remaining untaxed gain after el-levite clause of other periods are taken to income in the year of the year. |
| (7) For company that has remaining untaxed gains after other clause, revenue transfer after the fifth clause and tax law Section 10-5 other clause exempted within an amount equal to overall net accounting result before tax for income years 2007 and 2008. The Ministry of Justice can in regulation give closer rules about the calculation of overall net fiscal result before taxes after the preceding period. |
| (8)-- |
| (9) Undershot determined by the rules of the tax law Section 8-15 more to the fourth clause is not going to deductions in income determined after the fifth, eighth, 11th, and twelfth clause. |
| (10) Companies that have remaining untaxed gains after other clauses cannot lend loans to or quiet security to benefit from tax payers with direct or indirect ownership interests in the company. Corresponding applies to loans to or safety measures for the benefit of companies such as tax breaks have direct or indirect ownership interests in, or to the tax-on-person's close-up. As close-standing, tax-life parents count, spouse, spouse, married parents, children, grandchildren, roommate, or samboers parents. With loans also, further loans are also related to existing loan agreements. The first and second period does not apply to the security standoff to the benefit of the company within the arrangement reached before 26. March 2010, or agreement on security measures for the benefit of the company outside the arrangement reached before 26. March 2010 when security is faced with a financial institution with the session to provide credit for the funding enterprise law or equivalent financial institution with the consession to provide credit in other state. The first and second period also does not apply to loans to companies within the arrangement supported before 11. May 2010. The Ministry can provide regulation on exceptions from the first and second period for further lenuit loans related to existing loan agreements reached before 11. May 2010. Further, the first and second period does not apply to the foraging that has been occurred as a result of the decision to host concert contributions, jf. The apastoral Act Section 8-5 and the general public law of Section 8-5, jf. The apastoral Act Section 8-2 and the general public law of Section 8-2. The company is deemed to be stepped out of the arrangement from and with the income year when the terms of this clause are broken. Tax law Section 8-17 other and third joints apply accordingly. |
| (11)-- |
| (12) Companies that have remaining untaxed gains after other clause may not have a lower reaging equity share than the average of the company's reaging equity share for the revenue rate of 2007 to 2009, estimated on the basis of asset value at the conclusion of the individual income year. If violations of the arbitrary year in this clause are not fixed within 31. December of the subsequent revenue year, the company for this revenue year and each subsequent revenue year forward to the arbitrary break is fixed, revenue a portion of the balance of the settlement account at the income year end. The income settlement from the settlement account shall respond to the relationship reduction of the realcapital share, seen in relation to the average of the company's reaging equity share for the revenue rate of 2007 to 2009, estimated per 31. December of the individual income year. By the calculation of the realventure capital, it shall be taken to the point of the company's balance capital and recapital with the following tweaks : |
| a. | Bookled value of stocks or shares as mentioned in the Tax Act Section 8-11 first clauses-g shall be distributed between the reaging capital and the financial capital equivalent of the relationship between financial and reaging capital of the underlying company. By the calculation after the preceding period, the asset's value shall be determined to the value of the revenue year end. Book-led value of stocks or shares as mentioned in the tax law Section 8-11 first joints should be co-taken as part of the financial crisis. |
| b. | Referring contract totals for ships that have not been delivered per 31. December of the revenue year, shall be co-taken as part of the company's overall capital and will be taken to deductions in the company's financial capital, but so that the estimated financial capital shall be set to 0 if it becomes negative ; the Predecessor period shall apply accordingly company as mentioned in the tax law Section 8-11 e to g. This letter shall still not apply when calculating the average of the company's reaging equity share for the income tax rate 2007 to 2009. |
| c. | Book-led value of ships that are rented out on total freight terms to a concert-related company, shall be co-taken as part of the company's financial capital, if tax on income from the operation of the ship on the rents of the ship is less than one-third of that tax The company would have been iresemted if it had been taxed as a home-hearing in Norway and outside the arrangement, and agreement on the lease of the ship has been reached 11. May 2010 or later. With the Group of Concerns, Norwegian or foreign company is belonging to the same corporation, jf. The fiscal law Section 1-3 first clause. The terms of the grandparent influence in fiscal law Section 1-3 other clause first period, jf. other clause other periods as well as the third and fourth joints apply accordingly. |
| d. | Corporations that work the corporate accounting accounting for fiscal law Section 3-9 third or fourth clause shall be correct for items in fund for unrealized benefits after the apastoral law Section 3-3a or the Public Emergency Law Section 3-3a. |
The Ministry of Justice can give closer rules about the calculation of the realcapital share.
| 0 | Modified by laws 9 May 2008 # 31 (f o m income year 2007), 27 June 2008 No. 61 (f o m income year 2007), 12 des 2008 number 102 (f o m revenue year 2007), 19 June 2009 # 56 (f o m income year 2009), 11 des 2009 # 125, 25 June 2010 # 41 (f o m income year 2010, the changes under the fifth clause of f o m income year 2010, with effect for outshares after tax law Section 10-5 third clause, jf. ninth clause, which is adopted by the General Assembly of General Assembly after 25 March 2010), 10 des 2010 # 72 (f o m income year 2010), 9 des 2011 # 54 (f o m revenue year 2012). |
