On 15 December 2006, the Ministry of Finance proposed amendments to the Norwegian rules on unilateral relief for double taxation. If approved, the new rules will become effective on 1 January 2007; however, the rules on carry back of foreign tax credit will become effective on 1 January 2008. Details of the proposal are summarized below.
The existing principles on unilateral relief for double taxation (ordinary credit) remain unchanged, but additional r…