Oil Fund has 145 billion in tax havens – HegnarOnline

It displays an overview Dagens Næringsliv has obtained.

The reason for the two very different numbers is that the oil fund in 2014 changed the method used to place the stocks and bonds in different countries. This means that almost all tax havens disappear from inventory lists. Several companies such as listed on China, registered in tax havens, writes Dagens Næringsliv.

– This may indicate that the Oil Fund has increased the use of tax havens significantly. Tax havens are associated with secrecy, weak possibilities for access and erosion of other countries tax bases. It is an unfortunate development that the fund increases its investments through tax havens, says Professor Petter Bjerksund at NHH (NHH).

The overview shows that Norges Bank Investment Management has become more open on how reporting is, says acting communications manager Marthe Skaar. Communications Line Aaltvedt adds the following:

– I can reject the updated method for associating with countries is an attempt to decorate the facade, rather we have made this change to provide more information about how we report around country, says Aaltvedt. (© NTB)