Odfjell Drilling has announced that it has received a favourable verdict in the supreme court over a case involving the tax assessment for Odfjell Rig for the years 2009 – 2011.
Odfjell Rig appealed a ruling where the Norwegian Tax Authority claimed Odfjell Rig was liable for taxation in Norway for its participation in Deep Sea Drilling Company II KS.
The company will now reverse a booked tax expense for NOK 400m ($46.2m) plus interest in its consolidated profit statement for 2015 .