The Minister of Finance wants to implement two large international tax packages within six months: – Shared understanding that this is wise.
Vedum during the G20 meeting in São Paulo, Brazil. There, he hopes to be involved in landing the new tax packages for large international companies. Photo: Ministry of Finance Published: Published:
Less than 20 minutes ago
– The fact that Norway is now invited as a guest country means that we have the opportunity to participate almost on an equal footing with the permanent members. It is a unique opportunity to bring out Norwegian values and what we stand for, says Finance Minister Trygve Slagsvold Vedum on the phone from São Paulo in Brazil.
This week the stage is set for the G20 meeting in the Brazilian metropolis. Norway has been given a guest seat at the summit between the world’s 20 most important economies.
Many appreciate that, according to Vedum.
– I am almost a little surprised by how positive the American finance minister is about Norway being a participant, says the finance minister in this week’s E24 podcast, which is about Norway’s participation in the summit.
Read on E24+
The experts’ tip: This is how you can borrow more than five times your income
– Very high on the agenda
Vedum says the discussion on Thursday was about the subject of tax.
– In Norway, the discussion around ground rent tax has perhaps been a bit harsh. But down here there is a lot of interest in our way of imposing taxes. And the main topic in the room today has been wealth tax, actually, says Vedum.
Vedum believes that Norway’s independence from the EU means that we can take an active role in the discussions.
– And we try to use the opportunity to promote Norwegian industry and Norwegian values during the breaks and everything that happens around.
He adds that he promotes Norwegian companies in meetings with other heads of state. Among other things, the fertilizer producer Yara was discussed in a breakfast meeting with South Africa’s finance minister.
– Food is not so high on the agenda in Norway every day, but here it is very high on the agenda. And not least because Russia, as a global player, tries to use fertilizer and food as a tool to have great power, says Vedum.
IN PLACE: From left Christine Lagarde, central bank governor of the Eurozone, Sri Mulyani Indrawati, Indonesia’s finance minister, Trygve Slagsvold Vedum, Norway’s finance minister, Enoch Godongwana, South Africa’s finance minister, Janet Yellen, US finance minister and Fernando Haddad, Brazil’s finance minister. Photo: Ministry of Finance
also read
Vedum announces new tax: – Something fundamentally unfair
– This is wise
In November last year, the Minister of Finance announced a new tax that would affect large, international companies operating in Norway.
The move is “the most targeted drainage of tax havens ever”, said Vedum. The tax package that was presented at the time is called Pillar 2.
During this G20 meeting, Vedum says that they are discussing the so-called Pillar 1 tax package which is intended to affect the world’s largest companies. In the tax package, the question is how company profits between countries should be distributed.
Vedum says the main goal is to land both Pillars 1 and 2 this six months.
– My impression is that there is a common understanding that this is wise. That is what is said out loud, says Vedum.
Read on E24+
Salary overview: These have received the most in the last five years
– The second largest is Equinor
Vedum also says that he has reminded his Brazilian counterparts that it is in both countries’ interests to have a bilateral tax agreement between Norway and Brazil approved.
– We have a pre-negotiated agreement between Norway and Brazil that the Norwegian government has got through. It has been adopted in the Storting, so we are just waiting for an approval in the Brazilian parliament.
The agreement is important because there are many large Norwegian companies that operate parts of their operations in Brazil. Among other things, Equinor.
– The largest player on the Brazilian continental shelf is a Brazilian state company called Petronas. And the second largest is Equinor. So it is important for Norwegian companies and for me as Minister of State for Norway to promote those interests, says Vedum.
2024-03-01 05:18:54
#Vedum #tax #giant #companies #harder
