Spitsbergen: a tax oasis?
Because of the regulations of the Spitsbergen treaty, Spitsbergen is VAT-free zone and has a low company tax of 16 % rather than 28 %, as in mainland Norway. Consequently, Longyearbyen is an attractive place for companies to settle down, but authorities are getting stricter on conditions to be met by companies taxating in Spitsbergen: a local office and management are needed. The low tax regulation is for local companies rather than tax refugees.
Two companies have recently been „expelled“ from Spitsbergen, including a daughter of the oil rigg provider Seadrill Norge. With only one man in Longyearbyen, the company had an income of about 700 million Norwegian Kroner (88 million Euro), more than the largest local employer Store Norske (mining, 557 million Kroner).
Source: Svalbardposten
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