Share with your friends

Norway: Tax proposals in 2020 budget; updated CFC “black list”

Norway: Tax proposals in 2020 budget

The Norwegian government on 7 October 2019 presented 2020 budget proposals to the Norwegian Parliament.


Related content

The 2020 budget proposals include measures that would increase Norway’s CO2 tax and that would change the Norwegian interest limitation rules.

Read an October 2019 report (Norwegian) prepared by the KPMG member firm in Norway

CFC “white list” and “black list” published

The Norwegian tax authorities in late September 2019 published updated lists of “white-listed” and “black-listed” jurisdictions that apply in the context of Norwegian controlled foreign corporation (CFC) rules. The Norwegian tax authorities removed Hong Kong, Oman, and Serbia from the black list. There were no changes made to the countries included on the white list.

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Want to do business with KPMG?


loading image Request for proposal