Norway

No known attempt in Norway on European equity tax fraud since 2015

A total of ten tax fraud scams valued about NOK 350 million were stopped by administration since 2015.

“We have not discovered any new attempts at fraud,” said Merke Bergland Jebsen, Press Officer, in the tax administration, which states that, following the fraud cases in 2016, stricter and better control and documentation requirements have been launched.

“This means we greatly reduce the risk of improper payments of larger amounts to shareholders who have not received dividends from Norway.

Fraud Cases:

Between 2012 to 2015, investors and banks have waived tax on dividends of shares.

Through an advanced system, investors and banks have waived tax on dividends on shares in the period 2012 to 2015.

In Norway, a fraud case of almost 500,000 dollars was detected from 2013, and ten other cases of fraud attempts were stopped, the tax authorities reported in a press release in 2016. It has been found out that same  procedure is used in Norway attempt as used in other European countries.

“Both the companies that submitted the applications and the companies that issued false documentation in our cases are after we experience who were also involved in other countries. “Searching” in our cases is from a country that is usually entitled to full refund after tax treaty with Norway. But we have the impression that many of the applications in other countries applied to pension funds in the United States. However, these do not receive a refund of withholding tax after tax treaty with Norway, says Jebsen.

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