Tax statistics. Shipping companies, 2000

Taxable income increased by NOK 322 million to NOK 848 million. Joint-stock companies covered by the regime are taxable on positive net financial income, dividend income and other taxable income. Positive financial income was NOK 709 million of which NOK 172 million was allowance for high equity. There was an NOK 272 million increase in financial income compared with the year before. Of this, NOK 44 million was allowance for high equity capital. The dividend income was NOK 138 million, an increase of NOK 50 million. Operating profit in the company is not taxable until the owner withdraws income that is not taxed, or the shipping company exits the special tax regime.

Increase in tonnage tax

Tonnage tax is calculated on the basis of the net tonnage of the vessel and whether the vessel has been in operation. The tonnage tax rates are set by the Parliament every year and were doubled in the fiscal year 2000. For more information about the tonnage tax rates see 'About the statistics' . Total tonnage tax after reduction for new rules about environmental standard was NOK 139 million, an increase of NOK 61 million from 1999.

Fewer companies assessed by the special rules

There has been an increase in taxes even though the number of shipping companies that chose to follow the special rules has been reduced. Among the 750 companies that followed the special rules, there were 526 joint-stock companies, and 224 participant-taxed companies. This statistics only includes income and taxes for joint-stock companies as each of the participants is taxed. 41 new companies entered the voluntary special tax regime in 2000, while 109 companies have followed this regime since it was established in 1996.

Tables:

• Table 1 Number of joint-stock companies and participant taxed companies assessed according to sections 8-10 to 8-19 of the Taxation Act. 1996-2000
• Table 2 Taxable income and assesed taxes for joint-stock companies assesed according to sections 8-10 to 8-19 of the Taxation Act. 1996-2000. Thousand kroner
• Table 3 Number of qualifing assets in joint-stock companies and participant taxed companies according to sections 8-10 to 8-19 of the Taxation Act. 2000
• Table 4 Taxable income and tonnage tax for shipping companies assesed according to sections 8-10 to 8-19 in the Taxation Act, by total assets. Average. 2000. Kroner