The Norwegian Ministry of Finance recently notified EFTA about continuing the Norwegian tonnage tax system until 31 December 2026 (the current EFTA approval expire 1 July 2017). While expanding the tonnage tax to some vessels used for windmill installation, it is also worthwhile noting that some restrictions will be proposed, mainly;
We at Brækhus are of the opinion that the inclusion of some wind turbine installation vessels should be regarded as positive, especially as the previous distinction between some qualifying installation vessels and some non-qualified installation vessels could be regarded as incoherent with the general principles and intentions under the current regulations. On the other hand, this may be an issue for;
All in all it is a limitation of the currently applicable and relatively liberal rules.
We at Brækhus are available to discuss these changes and their consequences for your Group.