The case concerned the question of whether Herkules Capital should have been liable to tax for so-called “carried interest”, ie the share of the PE fund’s profit payed out to the company in charge of managing the fund. The question was whether these types of payments should be counted as taxable employment income for (some of) the owners. In turn, this defines whether consultancy firms, where the owners are employed, should pay employers’ contribution of an equivalent amount.

Partners at Thommessen, Ståle R Kristiansen and Finn Backer-Grøndahl, have assisted Herkules Capital in the case, in cooperation with law firm Wiersholm.