Norway’s Minister of Finance wants to tighten tax rules for use of private aircraft

Trygve Slagsvold VedumPhoto: Terje Bendiksby / NTB
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The tax authorities have been frustrated that private use of the property and private aircraft owned through companies is not reported. Now the Minister of Finance wants to tighten the rules.

Unspecified income from such private usage in companies in 2019 amounted to ca. NOK 1.45 billion, the newspaper Klassekampen writes.

Now the Minister of Finance Trygve Slagsvold Vedum (SP) wants to shift the burden of proof from the Tax Administration to the company and owner, who will have to show that private planes are used in connection with the company’s activities and not for private purposes.

“Yes, you can have a helicopter, but you can not have the company pay for it if you only use it privately. Then you have to pay for it yourself,” Vedum said.

Vedum drew inspiration for the move from Denmark, which has had a similar scheme since 2001. The Norwegian proposal will now go up for consultation.

Source : © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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