Oil tax changes shift exploration risk

The Conservatives’ Oil Minister Tina Bru and Finance Minister Jan Tore Sanner surprised just about everyone Tuesday evening, when they proposed some climate-friendly changes in Norway’s tax system for the oil industry. The changes, if approved by Parliament, will leave the industry facing much more of the financial risks involved in oil and gas exploration […]

Lots of changes from July 1st

Ferry fares are being cut, taxes on soft drinks have been lowered and interest rates on student loans are rising. Those are just some of the changes ushered in since Parliament closed for the summer recess. New laws and tax rates often take effect from either January 1st or July 1st in Norway. Among the […]

Carew faces tax evasion charges

Police and tax authorities raided the Oslo home of former Norwegian football star John Carew on Wednesday, later declaring that they suspect him of serious tax evasion. Norway’s economic crime unit Økokrim also reportedly seized Carew’s mobile phone but Carew himself still hadn’t been arrested. Newspaper Dagens Næringsliv (DN) was outside the apartment building in […]

Corona may finally kill off duty-free

Never before has the future of Norway’s admittedly “absurd” duty-free shopping system been more vulnerable to permanent shutdown. After living without travel abroad during the past Corona year, many claim the time is now ripe to do away with the duty-free quotas such travel has allowed. The debate over what Norwegians call “taxfree” has raged […]

Corona outdates latest tax lists

NEWS ANALYSIS: Norwegian tax authorities released results from last year’s tax returns on Tuesday, but never before have they been as instantly outdated and even misleading. The Corona crisis has likely reduced many of the fortunes listed for tax year 2019, and the tax-adjusted figures often fail to reveal actual income and market-value net worth anyway. […]

New state budget cuts lots of taxes

After weeks of intense negotiations, Norway’s conservative parties have finally agreed on a state budget for next year that includes large cuts in some unpopular taxes, more money for transport, pensions, police and the courts, and lower health care bills. The budget deal gives the government a majority in Parliament, averting a stand-off that could […]

Grocers may win border trade battle

Norwegian grocery stores have been thriving during the Corona crisis, after closed borders and Covid-19 restrictions prevented Norwegians from driving over the border to shop in Sweden. Now other moves are afoot to keep Norwegians shopping at home as the battle over border trade rages once again. Thousands of Norwegians living within an hour or […]

Majority supports aid to oil industry

A new survey shows that not only a majority of politicians support controversial tax relief and financial aid to Norway’s oil and offshore industry. Fully 60 percent of Norwegians questioned do as well, even as a similar number want the state to provide more support for climate measures. The survey, conducted by research firm Opinion […]

Oil companies win some tax relief

The leaders of Norway’s three largest opposition parties in Parliament finally struck a compromise with the government on Monday that offers some tax relief to oil companies on the Norwegian continental shelf, but not as much as they wanted. The goal is to preserve jobs, even as the country works to reduce its economic dependence […]

‘From Corona crisis to a new jobs crisis’

Prime Minister Erna Solberg is clearly proud of how Norwegians have withstood the Corona crisis, but now she worries that a new crisis looms. Not all of Norway’s pre-Corona jobs will still be there as the country reopens for business, she warned during the weekend, and economists agree that unemployment looms as the country’s next […]