Statoil

Statoil, the Norwegian oil and energy company, and Norsk Hydro, the Norwegian energy and metals group, have saved more than 12,5 million euros in total on taxes by having co-ordination offices in Belgium, according to a report in Norwegian daily Dagens Naeringsliv. Statoil's Belgian centre, where local tax rates are between 1 and 2 %, recorded profits of 56 million euros in the year 2000. This entailed that Statoil received a return of around 81 million euros last year, generating tax gains of at least 12,5 million euros per year. Statoil declined to comment on the tax return, but added that the company pays 28 % tax on profits transferred to Norway. Statoil is one of 228 international companies licensed to have a co-ordination centre in Belgium, where it opened its office in 1989. However, the tax licence system is now being challenged by the EU commission, which hopes to terminate it by the end of 2005.
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BENOEMINGEN
Roberte Kesteman Roberte Kesteman
Algemeen directeur NUON BELGIUM
Luc Asselman
VLAAMSE MAATSCHAPPIJ VOOR WATERVOORZIENING
STIJGERS & DALERS BEL20