First female Chief Justice in Norway

Due to the mandatory retirement age, Tore Schei has now resigned after having been Chief Justice of the Norwegian Supreme Court since 2002. Toril Marie Øie has been appointed new Chief Justice. She is the first female in Norwegian history to be Chief Justice. She took up her office on

Modernization of the Foundations Act

To adapt the Foundations Act to today’s foundations, the Government has appointed a committee to consider changes in the Act. This is a follow-up of the governing parties’ decision to ensure that the rules for foundations as far as possible contribute to promote foundations as a form of entity. There

Immediate payment of penalty tax to be stopped for disputed tax claims

Pending enactment of new rules offering better protection for taxpayers who dispute tax or duty claims, the Finance Ministry has decided to stop the obligation to pay penalty tax and duty relating to disputed claims. Under current law tax and excise duty claims, including penalty taxes and penalty charges, must

Technology Transfer Regulation implemented

The Ministry of Trade, Industry and Fisheries has passed a regulation implementing the technology transfer block exemption into Norwegian competition law. Pursuant to Norway’s obligations under the EEA agreement, the domestic regulation implements Commission Regulation (EU) No 316/2014 on the application of Article 101 (3) of the EU Treaty on the

Loans from limited companies to be taxed as dividend

The Government has proposed that loans given from limited liability companies to personal shareholders shall be deemed fiscally as dividend. Dividend is taxable for the personal shareholder. The new rules will come into force 7 October 2015. The proposal will hit new loans in particular but also existing loans will