Wilh Wilhelmsen, one of Norway’s largest ship owning and operating firms, has gotten tired of the Norwegian government’s expensive and constantly changing taxing, rules and regulations. Thus in a bold move it has flagged out its Norwegian fleet to Malta. The family-controlled firm stock listed in Oslo, has opted against going along with the new tax system handed down by the Norwegian Government last year. The shipping industry has been fighting the changes along with a claim that it had to pay NOK 21Billion in taxes that it had built up under a previous system. Wilhemsen has around 14,000 employees in 72 countries and was founded in October of 1861 It is best known for its car carries and liner business around the world. The company’s headquarters will remain in Lysaker, just outside of Oslo.
Larson note: Sometimes you can’t fight city hall. Sometimes you need to take your ball and find another playing field. Sometimes companies need to more to a new city, state or country to remain competitive. Does anyone really find this a surprise?
Larson & Associates
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