The multilateral instrument (MLI) negotiated under Action 15 of the OECD/G20 base erosion and profit shifting (BEPS) project and signed by Norway entered into force 1 November 2019.
Norway signed the MLI on 7 June 2017 and deposited its final position regarding the MLI on 17 July 2019, including the list of 28 tax treaties that Norway intended to be covered by the MLI.
For a treaty to be covered by the MLI, both signatories need to have: (1) joined the convention, (2) included each other in their list of covered tax agreements, and (3) deposited their instruments of ratification. The MLI allows the amendment to income tax treaties without the necessity to conduct additional negotiations between the treaty-partner countries.
For Norway, this means that the tax treaties with countries such as Australia, Ireland, Netherlands, Poland, the UK, and others will be affected by the MLI.
For more information, contact a tax professional with the KPMG member firm in Norway:
Per Daniel Nyberg | +47 40 63 92 65 | email@example.com
Lene Lodde, Lene | +47 40 63 95 98 | firstname.lastname@example.org
Andres Kristian Ekern | +47 40 63 90 47 | email@example.com
Thor Leegaard, | +47 40 63 91 83 | firstname.lastname@example.org
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.