Double Taxation Agreement Uk Norway

Geschrieben am Samstag, September 18, 2021 | Kommentare: 0

1. Where a person considers that the acts of one or both Contracting States will result or result in taxation which is not in conformity with the provisions of this Convention, he may submit his case to the competent authority of the Contracting State in which he is established, irrespective of the remedies provided for by the domestic law of those States, or where his case falls within the scope of article 29, paragraph 1: in the case of the State Party of which he is a national. (i) in the case of the United Kingdom, it is generally exempt from income tax and is a pension scheme registered in accordance with Part 4 of the Finance Act 2004 (with the exception of a social security scheme), including pension funds or pension schemes which are managed through insurance companies and investment funds whose shareholders are exclusively pension schemes; and 1. States Parties shall assist each other in the recovery of tax claims. This aid shall not be limited by Articles 1 and 2. The competent authorities of the States Parties may, by mutual agreement, regulate the application of this article. 2. Without prejudice to other provisions of this Agreement, the taxation of profits from the transport of oil (including gas and other hydrocarbons) from the Murchison Field reservoir to and through the terminal, but not from the terminal, as well as profits generated on the transfer and collection of capital taxes for investments used for such transport shall be subject to: where applicable, the principles set out in paragraphs 2 and 4. of Article 24 of this Convention. 2. The competent authority, if the objection appears to it to be justified and if it is unable to find a satisfactory solution itself, shall endeavour to resolve the matter by mutual agreement with the competent authority of the other Contracting State with a view to tax evasion which is not in conformity with this Agreement.

The agreement also contains specific provisions to avoid double taxation of production profits from certain oil and gas deposits in the North Sea, which extend along the demarcation line between the United Kingdom and the Norwegian continental shelf (Articles 24 to 27). 1. The competent authorities of the Contracting States shall exchange the information necessary for the application of the provisions of this Convention or of the domestic law of the Contracting States concerning the taxes covered by this Convention, in so far as the taxation of this Convention does not preclude the prevention of fraud and the facilitation of the management of the anti-risk legislation. Article 1 of the Convention does not restrict the exchange of information. All information received by a State Party shall be treated in the same manner as information obtained under the national law of that State and may be disclosed only to persons or authorities (including courts and administrative authorities) who are responsible for the assessment or collection, enforcement or prosecution of or an appeal decision in respect of taxes governed by the this Convention. Such persons or authorities may only use this information for that purpose. You may disclose the information as part of a public legal proceeding or court order. Since there are many rules and complications that can arise when applying double taxation treaties, it is important to seek the help of a qualified and experienced accountant. (ii) is, in the case of Norway, an undertaking entitled to conclude pension contracts under national rules and placed under the control of the Norwegian Financial Supervisory Authority (Finanstilsynet).


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