taxnews.ey.comPrint

13 May 2016

Norwegian interest deduction limitation rules are potentially contrary to EEA Agreement

The European Free Trade Association Surveillance Authority (ESA) sent a letter of formal notice to the Norwegian Ministry of Finance on May 4, concluding that the Norwegian interest deduction limitation rules are not compatible with the European Economic Area (EEA) Agreement, and requesting the Ministry of Finance to submit comments within two months. After the time limit has expired, ESA will evaluate whether to initiate an infringement procedure against Norway for failing to comply with its EEA Agreement obligations.

A Tax Alert prepared by Ernst & Young Norway, and attached below, provides additional details.

———————————————
ATTACHMENT

Full text of Tax Alert 2016-0862

Document ID: 2016-0862

 

The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.

 

Copyright © 1996 – 2025, Ernst & Young LLP

 

All rights reserved. No part of this document may be reproduced, retransmitted or otherwise redistributed in any form or by any means, electronic or mechanical, including by photocopying, facsimile transmission, recording, rekeying, or using any information storage and retrieval system, without written permission from Ernst & Young LLP.

 

EY US Tax News Update Master Agreement | EY Privacy Statement