Tax Administration discovers NOK 9 billion evaded taxation

Norwegian kronerNorwegian kroner.Photo: Berit Roald / NTB scanpix

Norwegian investors get a real tax blow after the tax authorities have discovered NOK 9 billion kroner which has been withheld from taxation in under three years.

The discovery is so large that the tax authorities continue their search.

– This has not been a simple control project. Nevertheless, we have identified enormous sums, says Svein Godager, head of the Tax Administration “Risk Project Finance,” to the newspaper Dagens Næringsliv.

– We found so much that we will continue the work. I can’t say how much we expect to find, but I expect a there will be a high disclosure in the coming year as well.

Since January 2014, there have been 200 people working in the Tax Administration to go through financial markets and checked 12,000 private individuals and 1,000 businesses.

In addition to the discovery of NOK 9 billion kroner, which should have been recorded as income, they found NOK 1.9 billion that should have been reported as assets.

Those who have evaded taxes will have a total tax bill at around NOK 2.5 billion – plus additional surtax of up to 60 percent.

– It is impossible for us to say unambiguously whether this has been done consciously, unconsciously, or as a result of ignorance, says Department Director Erik Nilsen of the Tax Agency. He says they have reason to believe that it is probably both.

The largest discovery came from a company that had not stated dividends of over NOK 300 million, which originated from a tax haven.


Source: NTB scanpix / Norway Today