Norway moves on Country by Country reporting

   0   0 Blog, Country by Country

From Sigrid Klæboe Jacobsen, Director of TJN – Norge

In December, the Norwegian Parliament voted in favour of implementing country-by-country reporting. The Ministry of Finance has now announced the new regulations which tells us exactly what we’ve got, and what we haven’t got.

The reporting standard is still flawed, in that it does not show the full key data in tax havens, or countries where companies have «supporting functions», which is a term that the Ministry likes to use to refer to tax havens. But there are a couple of reasons to celebrate, just a little bit. The companies must disclose

  • where their subsidiaries are registered – including the ones in tax havens.
  • the numbers of employees in each subsidiary.
  • the interest costs when their payments are made to other subsidiaries. This includes payments to tax havens.

Unfortunately, the list of what we haven’t got is a lot longer.

What about all other payments to tax havens? What about requirements for auditing? There’s also a dodgy sentence about companies not having to report from subsidiaries if the reporting «is too costly».

The standard will be evaluated in three years, in time before the EU will start its own CbC evaluation. As we have noted in our blog (only in Norwegian), Norway should evaluate CbC once a year, and continually improve the standard. This way, the Norwegian «experience» will be of real value to the EU.

We need to move forwards a bit faster: this snail’s pace is not good enough.

Related Posts

New estimates reveal the extent of tax avoidance by multinationals

Price Waterhouse CoopersNew figures published today by the Tax Justice Network provide a country-level breakdown of the estimated tax losses to profit shifting by multinational companies. Applying a methodology developed by researchers at the International Monetary Fund to an improved dataset, the results indicate global losses of around $500 billion a year. The figures appear in a […]


Banking Secrecy in China, its related territories and Taiwan

Hong Kong from Sky 100Foreword. The Tax Justice Network is a non partisan network of experts working towards transparency, so we do not take any position about countries’ territorial and political claims. However, we do expect countries with a de jure (legal) or de facto (in practice) influence over other territories, to take responsibility for their power. We point […]


Is tax avoidance at the heart of Ireland’s economic miracle?

AIB International Finance Centre Dublin - By Estoy Aquí (Own work) [GFDL ( or CC BY 3.0 (], via Wikimedia CommonsComing out of the economic crisis Ireland was one of the best performing economies, with GDP growth rates of 8.5% in 2014 and an extraordinary 26.3% in 2015. But how much of this economic activity was real, and how much a fiction created by Ireland’s tax haven status? A new paper by Heike Joebges of the University […]


New Report: HMRC’s “Building our Future” programme

bigben-mcbigbenfaceYesterday the Tax Justice Network was in the UK Parliament to launch a report it co-produced with the Public and Commercial Services Union. The report, entitled “HMRC, Building an Uncertain Future” is a study of HMRC’s (the UK tax authority) reform plans which it is calling “Building our Future”. The report published yesterday analysed the […]


Financial secrecy in football: time for action

bigben-mcbigbenfaceEveryone has known for years that football is rotten to the core and financial secrecy is at the heart of the problem. Why then is no one doing anything about it? This post from the Offshore Game project originally features in the Independent. 


Leave a Reply

Your email address will not be published. Required fields are marked *

Back to Top