Shipping groups fight Norway in court over taxes
OSLO, June 3 (Reuters) – Norway’s government meets two shipping companies in court on Wednesday to defend its tonnage tax that imposes a big tax bill on the industry at a time when the global downturn is hammering profits.
A scheme presented in 2007 aims to make Norway’s system similar to tonnage tax systems in countries of the European Union, of which Norway is not a member. It also imposes 14 billion crowns ($2.3 billion) in back taxes on undistributed profits retained by shippers over many years.
