As part of the revised budget for 2017 (previous coverage 5.16.2017), Norway has proposed new incentives to promote investments in business start-ups. The incentives would apply from 1 July 2017 and provides for an annual deduction of up to NOK 500,000 for investments made by individuals or their investment companies into active start-ups formed in the EEA within the past six years. The minimum required investment is NOK 30,000 and the maximum is NOK 1.5 million per company, and the investment must be held for at least three consecutive years. For the incentives to apply, the investment must be reported and the investee company must have less than 25 employees (average), have an annual social security basis of at least NOK 400,000, have income and balances below NOK 40 million, be at least partially subject to tax in Norway, and meet certain other conditions.
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