Songa loses exit tax case related to Cyprus move

Listed drilling company Songa Offshore has lost a case against the Norwegian tax office, which raised the company's taxable income by NOK 1.8 billion when Songa moved to Cyprus.

BY OLE ANDERSEN, SHIPPINGWATCH

The Oslo District Court has sided with the Norwegian tax office in a case against drilling company Songa Offshore. The case dates back to 2009, when Songa moved the ownership of the company as well its rigs to a company registered in Cyprus.

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