Rate for:
Interest for the leasing of mobile production installations on the continental shelf
Section 5 second paragraph of the Regulation of 18 August 1998 on the tax treatment of the leasing of mobile production installations on the continental shelf (the Own-Lease Regulation) was abolished with effect from the income year 2022 by regulation of 17 October 2022.
Established by the Ministry of Finance on 19 January 2022.
When an oil company leases a mobile production installation, the lessee becomes entitled to claim tax deductions under Section 3(d) second paragraph of the Petroleum Tax Act for calculated interest expenses. The calculated interest expenses are determined using a normal interest rate. This normal interest rate is determined as the average interest rate on government bonds with a three-year term for the income year and the two previous income years plus 1 percentage point. This is stipulated in Section 5 of the Own-Lease Regulation.
The interest rate for 2021 is therefore set at 1.9 percent.