The Private Client team at Anderson Anderson & Brown LLP is already one of the largest in the North East of Scotland, with extensive experience in every aspect of personal and business tax. This comprehensive service has always included specialist advice to individuals working all over the world in Oil and Gas related positions. Trusted existing client recognition, together with enquiries from offices in Edinburgh and London, has meant they have seen a significant increase in demand for this cross border, international tax advice.
Globalisation is an increasingly important opportunity for businesses of all types – some looking to set up a new ventures overseas, others looking to expand operations and some performing international projects in multiple countries. All of these approaches are well known and understood by Chartered Accountancy & Business Advisory firm Anderson Anderson & Brown LLP (AAB), who have a wealth of capability, experience and resource in this area.
As at 1 January 2019, the Norwegian authorities have introduced a new PAYE regime that imposes a flat rate tax of 25% on gross employment income for foreign workers temporarily performing work in Norway.
Under the Norwegian Tax Administration Act, all businesses operating in Norway or on the Norwegian Continental Shelf are obliged to report information regarding contracts given to non-Norwegian companies. This affords the Norwegian Tax Authority the ability to review information about work being undertaken within Norwegian jurisdictions and allows them to assess the Norwegian tax liability of personnel and companies. This contract and employee reporting is called an RF-1199.
I am proud to live and work in Aberdeen and North East of Scotland, a city and region built on its surrounding natural resources and all the support sectors that come with them. Our heritage is built on our natural resources, such as granite, fish, oil & gas – and recently we have been attracting attention for our role in renewables with the opening of some of the world’s most powerful wind turbines in Aberdeen Bay last year. Furthermore, food & drink and tourism are crucially connected to our natural resources and we are starting to understand the importance of industry diversity, the value significance of provenance and what our local heritage means to the outside world. Some of these larger local industries are not what they used to be, however, in Aberdeen and the North East of Scotland, it can be argued that our natural resources are still amongst our greatest assets – they are our future.
The number of early stage technology businesses continues to increase in Scotland with various technology incubators and universities providing more support than ever before to help entrepreneurs develop their ideas into a business. However, creating a successful technology business will require investment and this is rarely a simple process.