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tax authorities released results from last year’s tax returns on Tuesday, but never before have they been as instantly outdated and even misleading.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 […]

Government drops ‘salmon tax’ plan

Profitable salmon producers and other fish-farming operations won’t have to share more of their wealth with other Norwegians after all. A proposal to raise billions in new taxes tied to their use of waters in Norwegian fjords was dropped from the government’s revised state budget, and replaced witih a much less-taxing alternative. Debate had been […]

Oil firms set to win disputed tax relief

The Norwegian government’s revised state budget includes tax relief measures that some fear will unduly stimulate the oil industry. Finance Minister Jan Tore Sanner is most keen, however, to preserve jobs and ease the current pain and uncertainty of low oil prices, while some Members of Parliament want to do even more to aid oil […]

Government gives in to oil tax relief

UPDATED: After weeks of debate, and concern from its own finance ministry, the Norwegian government has decided to change the rules regarding how oil companies can write off their investments. The tax relief is aimed at promoting ongoing offshore investment, to preserve and create jobs, but it’s temporary and has some strict rules. Instead of […]

Market slides amid oil price drama

The last day of trading prior to Norway’s five-day Easter holidays ended with the Oslo Stock Exchange’s main index falling 1.34 percent, to 734.38. The Norwegian market once again was influenced by an oil price drama that wasn’t resolved by closing time, and also involved controversial calls for tax breaks from the country’s biggest and […]