Odfjell Drilling beats the Norwegian taxman

Odfjell Drilling beats the Norwegian taxman

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 .

Grant Rowles

Grant spent nine years at Informa Group based in London, Sydney, Hong Kong and Singapore. He gained strong management experience in publishing, conferences and awards schemes in the shipping and legal areas, working on a number of titles including Lloyd's List. In 2009 Grant joined Seatrade responsible for the commercial development of Seatrade’s Asia products. In 2012, with Sam Chambers, he co-founded Asia Shipping Media.

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