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Norwegian tax change sees DHT duo relocate to Singapore

Written by Nick Blenkey
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JANUARY 4, 2018 — Tanker company DHT Holdings, Inc. (NYSE: DHT) reports that its Co-CEOs — Svein Moxnes Harfjeld and Trygve P. Munthe, both Norwegian citizens — have relocated from Oslo to Singapore.

DHT Holdings says the relocation follows changes in the tax law in Norway from 2019 for tax residency of companies formed outside of Norway. The new legislation takes into account the place of daily management as well as the place of management and control on board level.

The company says that its tax residency will remain unchanged in Bermuda. Its office in Singapore will hold senior management, chartering, operations, newbuilding supervision and technical management while its office in Norway will retain functions within finance, accounting, investor relations, chartering and operations.

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