The question in the case was whether Cytec Norway KS (now Allnex Norway A/S) had paid an arm’s length price for an intra-group transfer of intangible assets in 2010.
Cytec Norway KS had set the price for the accquired intangibles at NOK 210 million and calculated tax depreciations on that basis.
The Norwegian tax authorities found that no intangibles had actually been transferred.
The tax Appeals Committee determined that intangibles had been transferred but only at a total value of NOK 45 million.
The Court of appeal upheld the dicision of the Tax Appeals Committee, where the price for tax purposes was estimated at NOK 44.9 million.
Norway vs Cytec 19 March 2019, Borgarting Lagmannsrett Case No 2017-90184