7 proposals for the tax system of the future
ICT Norway today launched 7 concrete changes in the tax system to strengthen the necessary restructuring of Norway through technology development, digitalisation and green growth.
The proposals were launched in connection with today’s meeting in the reference group for the committee on perspectives for the future tax and excise system (The tax committee), where ICT Norway participates together with several other organizations. The purpose of the reference group is both to provide specific input to the Tax Committee, but also to answer various questions the committee wishes to discuss.
ICT Norway’s proposals are:
- Remove the taxable benefit of telephone and broadband paid by employer.
- Reintroduce and expand the scheme with tax incentives for co-ownership in your own company.
- Extend the option tax scheme to also apply to Fintech companies.
- Review and improve the tax rules for continuing and further education for employees.
- More favorable tax rules for (some) foreign workers.
- Better depreciation rules and deductions for fixed assets related to technology and digitization
- Use the VAT system to stimulate circular economy, primarily related to electronics
– For ICT Norway, it is important that the tax and duty system is well adapted to key development features, such as technology development, transition to green growth, digitalisation and globalization. These are development features that ICT Norway wants and works with on a daily basis and which we believe the Norwegian tax and excise system should stimulate to a greater extent than today, said ICT Norway’s director of business policy and communication, Geir Olsen at today’s meeting.
Today’s meeting was also used to discuss more general issues related to tax on earned income, corporation and capital taxation and green tax exchange. ICT Norway emphasized i.a. that it is important that we have an internationally competitive tax system that contributes to business start-ups in Norway, that counteracts the relocation of profitable jobs and that does not discriminate against Norwegian owners and / or companies in competition with foreign ones when it comes to assignments or business activities in Norway. ICT Norway also warned against introducing Norwegian special rules regarding so-called profit transfer.
ICT Norway has established its own internal expert group for the work of the tax committee. ICT Norway’s input has been prepared in collaboration with this group.
Read more about ICT Norway’s concrete proposals and more general input to the Tax Committee her.