Norway

New agreements to stop tax evasion

Norway and the other Nordic countries are intensifying global efforts to prevent international tax evasion by signing agreements with Antigua and Barbuda, Dominica, Grenada and St. Lucia.

The new agreements represent the continuation of a major project by the Nordic Council of Ministers to enter into information exchange agreements with international offshore financial centres worldwide. Since the autumn of 2007 the Nordic countries have entered into a large number of information exchange agreements, and together the Nordic countries hold the leading position in the global efforts to combat tax evasion.

Denmark, as President of the Nordic Council of Ministers in 2010, has given priority to the continuation of Nordic co-operation to stop tax evasion. The Nordic countries have agreed to extend this co-operation until 2012.

A signed information exchange agreement gives the tax authorities access to information on tax evaders' capital investments and incomes. In addition, agreements help to uncover assets that have not been reported at home. For constitutional reasons, the agreements are entered into on a bilateral basis and are passed in the countries' parliaments before taking effect.

(NRK/Press release)