Law Amending The Law Of 26 March 1999 No. 14 Relating To Tax On Income And Wealth

Original Language Title: Lov om endringer i lov 26. mars 1999 nr. 14 om skatt av formue og inntekt

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Read the untranslated law here:

Law amending the Law of 26 March 1999 no. 14 relating to tax on wealth and income.

Date LOV-2006-12-15-81

Affairs Ministry


Published in 2006 Booklet 15

Effective 15.12.2006, 01.01.2007, King.



Short Title
changes to the Tax

Chapter Overview:


In the Act of 26 March 1999 No.. 14 relating to tax on income and wealth is amended as follows:


Transitional rule for Taxation § 4-2 second paragraph:

(1) In determining taxable capital exempt the following assets:

rights under the agreement on individual pension or savings plan under the Tax Act (IPA), when the agreement is entered into before May 12, 2006.

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(2) are not deductible under the Tax Act § 4-3 subsection for the value of the obligation to provide annuity mentioned in the first paragraph.
Transitional rule by repealing Taxation § 5-41 second paragraph:
provisions concerning the taxation of annuities in Taxation § 5-41 is not applicable for group annuities in employment established before 2007.
Transitional rule by repealing Taxation § 6-47 subsection c:
Ministry may issue regulations concerning termination of individual pension agreements under the Tax Act, and that the company must ensure that it issued a confirmation that ensure policyholder accrued rights under the agreement. The regulations may policyholder is given the right to subscribe new agreement without giving new health data, and the size of the fee if such an agreement could be determined. The regulations may also contain provisions regarding repurchase.
Transitional rule by repealing Taxation § 6-47 subsection d:
Ministry may issue regulations concerning termination of continuation insurance entered into before 1 January 2007. The regulations may also be laid down provisions on the corresponding space for transitional rule to the Tax § 6-47 subsection c.


The heading of § 10-50 shall read:
cooperative bonus and allocation to share capital
§ 10-50 first paragraph, second sentence should read:
In addition, a deduction for provisions for jointly share capital by up to 15 percent of income.
Current § 10-50, second sentence becomes the third sentence.
Current § 10-50 first paragraph, third sentence becomes new fourth sentence.
§ 10-50 new fifth paragraph should read:
Boligbyggelag covered by the law on building societies may require less provisions for jointly owned capital. Subsection second to fourth sentences apply correspondingly, but so that deductions can be granted in income from trading with members and affiliated cooperatives.
Current § 10-50 fifth paragraph becomes new sixth paragraph.


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Amendment under VII shall nevertheless take effect immediately as regards transitional provisions for repeal of the Tax Act § 6-47 first paragraph, c and d.
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Changes under X enters into force from the date decided by the King.