New provisions on restrictive covenants in employment contracts
Norway on January 2nd, 2016
Since 1 January 2016, new provisions on agreements to restrict competition in employment contracts have been in force in Norway. The Working Environment Act (WEA) contains a new chapter which includes these detailed provisions. Transitional rules apply for employment contracts with restrictive covenants that were entered into before the new law came into force. All […]
Carried interest accepted as earned by personal companies
Norway on January 11th, 2015
In a landmark judgement the Norwegian Supreme Court has ruled in favour of taxpayers, accepting their claim that carried interest profit share should not be taxed as employment income but instead should be taxable at the level of the individuals’ personal companies. The Supreme Court has thereby overruled an early decision, which concluded that the […]
Equal treatment policies could be waived for workers from staffing agencies
Norway on January 9th, 2015
On 15 July 2015 a new regulation came into force that provides exemptions from the provisions in the Norwegian Working Environment Act on equal treatment of wages and working conditions for personnel hired from staffing agencies. The regulation implies that equal treatment policies can be waived provided that there is a collective agreement in the […]
Norwegian Court of Appeals: carried interest taxable as employment income
Norway on January 4th, 2015
In a landmark judgement, the Norwegian Court of Appeals has ruled that carried interest profit share that can be linked to services provided by employees should treated as taxable income for those employees. The Herkules case concerned a private equity fund established under a Jersey LLP structure. The services of key individuals were provided to […]
Norwegian Working Environment Act to change
Norway on January 3rd, 2015
The Norwegian governing parties have announced key changes to the Working Environment Act that are designed to bring greater flexibility for Norwegian employees, as well as helping the unemployed get back to work. The proposals will be considered by the Parliament in June. The key changes to the Act are as follows: Employers may, within […]
Norway – tax cuts in the state budget for 2015
Norway on January 10th, 2014
In the recent 2015 Budget announcement, the Conservative Coalition Government proposed several tax cuts, as well as a few increases. The reduction in the net wealth tax is the most significant change for resident individuals and foreign individuals owning real estate situated in Norway. The Government also proposed cuts to tax on earned income and […]
CELIA Alliance welcomes Norwegian member firm Haavind
Norway on January 9th, 2014
CELIA Alliance’s expansion into the Nordic countries continues with the addition of a new member firm in Norway. We are delighted to announce that leading Norwegian firm Haavind joined the Alliance with effect from 1 September, 2014. Haavind is one of Norway’s largest law firms, with a history going back to 1893. Combining legal expertise […]