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Monday, March 4, 2024

Millions can expect tax refunds

Norwegians have been receiving their tax returns for 2018 from Norway’s state tax agency (Skatteetaten) in the past fews days, most of them already filled in since employers, financial institutions and organizations all send individuals’ payments and deductions directly to the agency. If no changes are necessary, Norwegians can simply approve them, with most able to expect refunds later this year.

State tax director Hans Christian Holte stressed once again that it’s important to check the “preliminary” returns, not least if a taxpayer is entitled to deductions that aren’t registered. Norwegians must sign off on their tax forms by April 30, with the deadline set at May 31 for sole proprietors.

Holte said the agency’s figures indicate that around 2.9 million Norwegian are likely to receive tax refunds, while around 800,000 will need to pay additional tax. Refunds, he said, will average NOK 11,900 (USD 1,400).

Asked why refunds were so high, Holte told state broadcaster NRK that many Norwegians intentionally have extra tax withheld in order to avoid a surprise tax bill. Others use the tax system as a form of savings account that pays relatively good interest. staff



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