Extended country-by-country reporting and Norway

Opinion piece: Tax Haven-regulation in a Sleeping Beauty Slumber

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The “tax haven – section” contains the requirements for an extended country-by-country reporting, but is put in a Sleeping Beauty slumber. Photo: Christian_A_Calmeyer_(CC_BY-NC-ND_2.0_Flickr).

Would the Government like to know about mailbox companies and capital in tax havens? If so, they already have the key themselves.

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Opinion piece: Should report on mailbox empires

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Statoil's tax director Finn Lexov stated that the company chose the Netherlands because of the favorable tax laws. The oil industry is calling it “stable and predictable", writes the Mona Thowsen. Photo: Kjell Eson, v/ Flickr: CC BY - NC - ND 2.0

Statoil and others should be forced to report on their mailbox empires. Or does the State prefer to get this sort of information through the news?

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NBIM wants companies to be transparent, but are not specific on which information they need as investors

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Norwegian Bank Investment Management (NBIM) asked PWYP Norway for feedback in an Expectations document on taxes and transparency.

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Are politicians in Parliament for or against a black economy and tax evasion?

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Snorre Valen (SV - socialist left) presented a suggestion to Parliament concerning a measure against a black economy and tax evasion. Poto: Stortinget (CC BY 2.0) Flickr

The litmus test is served. Snorre Valen (SV) asks politicians in Parliament to sign a representative proposal for extended country-by-country reporting. Since the Panama Papers, this is one of the most important measures which is not in place yet. The reason for this is the lack of follow-up by the Ministry of Finance on country-by-country reporting for accounting purposes.  

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Opinion piece: Still protecting the tax havens

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The consequence is that companies are not required to give information from tax havens, because payments to such places will be less than NOK 800,000, writes Mona Thowsen in the opinion piece. Photo: Kathie M Ceballos CC BY-NC-ND 2.0 Flickr

The Ministry of Finance has not followed up on Parliament´s request, so Norwegian companies do not have to submit information from tax havens.​

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The tax havens are now completely protected. The Ministry of Finance should be asked why.

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Thick walls at the Ministry of Finance. Foto: Helge Høifødt

 

Right before Christmas Eve, on December 22, the Ministry of Finance established changes to the amendment concerning country-by-country reporting (CBCR), without Parliament having dealt with the matter.

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The Ministry of Finance deny that they are protecting tax havens. PWYP Norway demonstrates why we believe that they are.

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The Ministry of Finance. Photo: Christian A. Calmeyer (CC BY-NC-ND 2.0)

PWYP Norway explains how the protection of tax havens can be repealed by removing a link between two paragraphs.  

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The Ministry of Finance propose to protect tax havens

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Thick walls at the Ministry of Finance. Photo: Helge Høifødt

 

Distinct improvements, but the same improvements are obliterated  - in the same consultation paper. 

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Why Norway should prioritize extended country-by-country reporting

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Knut Falk Qvigstad´s (MDG - Norwegian Green Party) input on the interpellation, points out what information society needs in order to keep their authorities and companies accountable. Screenshot: Parliament´s video archive

 

Knut Falk Qvigstad (MDG) explains why the weaknesses in OECD´s BEPS-track will allow companies to continue the same practices as they have been doing.

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