Songa Offshore SE Update On Norwegian Exit Tax

Songa Offshore SE Update On Norwegian Exit Tax

songaAs a consequence the NOK 1.8 billion increase of the Company’s taxable profit for the year 2009 remains unchanged. For the income years 2009-2015 the judgment does not result in any payable tax. For 2016 the Company will partly be in tax paying position and based on preliminary results for the Norwegian entities for 2016, the 2016 payable tax is estimated to be approximately USD 10 million. The Company will consider to reflect the effect of the judgment in the 2016 financial books and write off the relevant tax asset, currently estimated at USD 43 million. The Company has decided to appeal the case. Source: Songa Offshore SE Oil and Gas Press Oil and Gas News Undiluted !!! “The squeaky wheel gets the oil” Follow us: @OilAndGasPress on Twitter | OilAndGasPress on Facebook]]>

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