IT Sector Suffers from Tax Regulations

Turnover in IT sector has dropped from 50 to 2 percent of the total turnover in Oslo Stock Exchange in ten years, while the IT sector flourishes in the United States. The manager of the leading Norwegian IT company, Visma believes the reason of this huge difference is the high taxes to run IT business in Norway.

According to E24, Moan believes it is particularly property taxes that make it challenging to improve the companies that do not pay dividends. Then, they end up with foreign owners. He also stated that Denmark and Sweden have realized that this system does not work and accused Norway of not understanding this.

Graphic: Wikimedia | This bubble map shows the global distribution of spending on information and communication technologies in 2005 as a percentage of the top market (USA – $1,096,112,600,000).

About Visma

Visma is the leading provider of software and services for finance and administration. The Group comprises four business divisions Visma BPO Accounting and Payroll , Visma Software, Visma Procurement & Collecting and Visma Retail IT.

The international investment fund Kohlberg Kravis & Roberts ( KKR ) bought 76.9 percent of the shares in Visma Holding last week. The former owner, HgCapital , will retain a stake of 17.7 percent of Visma.

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