§ Mr. Skeet
asked the Chancellor of the Exchequer whether there is a subsisting double taxation agreement with Norway; and whether all the issues contained in the Oil Taxation Bill have been covered by the negotiations to date.
§ Mr. Moore
Yes. There is a long-standing agreement; and all matters arising out of the Oil Taxation Bill have been discussed in recent negotiations between Inland Revenue and Norwegian officials. A very minor addition to the existing agreement may be needed as a result of this Bill, but the existing agreement already covers the circumstances likely to arise in practice.