Norway to regulate sovereign wealth fund's tax haven exposure

Oslo

NORWAY will take a first step this week towards using its US$850 billion sovereign wealth fund, the world's biggest, as a tool to combat the use of tax havens, two key members of parliament's finance committee said on Wednesday.

The country's right-wing minority government will be asked to take a two-pronged approach to regulation, examining both the fund's own use of ownership structures designed to cut its liability for tax on its foreign investmen…