Publications

Global Forum on Transparency and Exchange of Information for Tax Purposes: Norway 2017 (Second Round)

Peer Review Report on the Exchange of Information on Request

In series:Global Forum on Transparency and Exchange of Information for Tax Purposes: Peer Reviewsview more titles

Published on August 21, 2017

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This report contains the 2017 Peer Review Report on the Exchange of Information on Request of Norway.

Summary of the report

The second round peer review assessed Norway’s legal framework as well as its implementation in practice against the 2016 Terms of Reference. The report concludes that Norway is overall compliant with the international standard on transparency and exchange of information. The 2016 ToR introduced a requirement under which beneficial ownership on relevant entities and arrangements should be available in Norway. There are several legal requirements to maintain beneficial ownership information in Norway and these requirements are generally well implemented in practice. However, a specific obligation to identify beneficial owners as required under the standard does not cover all relevant entities because this obligation is contained only in the AML law and not all relevant entities, except for foundations, are required to engage an AML obligated person. The tax authority has broad access powers to obtain all types of relevant information to comply with Norway's obligations under its EOI agreements as required under the standard. The efficiency of Norway's exchange of information processes in respect of incoming as well as outgoing requests has been demonstrated in Norway's exchange of information practice during the current review period and confirmed by peers.

Read the press release issued on 21 August 2017.