Category: Business News
OSLO (Reuters) – Norway proposed on Thursday to temporarily ease tax rules for oil firms to try to prevent a collapse in investments due to the coronavirus pandemic and a related collapse in crude prices.
The plan could boost the liquidity of oil companies by as much as 100 billion Norwegian crowns ($9.7 billion) over 2020 and 2021, Prime Minister Erna Solberg said.
The companies will be allowed to write-off investments more quickly, effectively postponing tax payments until later years.
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