The Norwegian Tax Administration has published a Tax Appeals Board ruling on the deduction of losses of an acquired company (case 01 NS 9/2019). The case involved a Norwegian company (Company B) that had acquired a pharmaceutical company (Company A), which had a tax loss of over NOK 85 million at the time of acquisition, with a nominal tax value of nearly NOK 24 million based on the 28% corporate tax rate at the time (2012).
After the acquisition, Company B claimed the tax loss a…