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 […]

Tax filing deadline nears

Hundreds of thousands of Norwegians are likely to spend at least some of the Easter holidays preparing their tax returns. Fully 2.8 million are in line for refunds likely to total nearly NOK 34 billion. Norway’s highly automated and simplified tax system means that the vast majority of employees can just glance over all the […]

Electric cars now hit with parking fees

After enjoying literally a free ride for years, owners of electric cars started having to pay parking fees from March 1 in Oslo just like all others. They are, however, much lower than those for “fossil” cars. “Electric car sales hit steadily new heights in Oslo, and it should pay off to choose an elbil […]

Cruise captain accused of fraud, tax evasion

A Norwegian cruiseship captain has been indicted on charges of serious fraud and tax evasion, after collecting disability pay from Norway’s state pension fund over a period of eight years while also sailing from port to port as the captain on various cruiseships. Newspaper Dagens Næringsliv (DN) reported on Thursday that an international warrant was […]

Arctic tax break offer sparks interest

The mayor of the small town of Bø in Vesterålen, Northern Norway, was in Oslo on Monday to futher promote his local council’s decision to cut fortune taxes as a means of attracting investment. Not as much promotion as he’d thought was needed, though, after a major British paper picked up on the tax break […]

Tax authority adds to NAV scandal

NAV isn’t Norway’s only state agency admitting to mistakes and apologizing to the public. The head of the state tax agency (Skatteetaten) also had to admit that it’s found 17,500 cases in which NAV clients were ordered to pay back welfare benefits in full, but didn’t get refunds themselves for the taxes they’d paid on […]

Climate change tops all political issues

Climate change has, for the first time, topped an annual list that ranks Norway’s most important political issues. It remains unclear, however, whether Norwegians and not least their political leaders will be willing to make the sacrifices needed to reverse it. The annual Klimabarometeret (Climate Barometer)  was released just after the Greens Party (MDG), for example, […]

Labour calls for new electric car tax

Norway has long promoted the sale of electric cars with lots of tax incentives. Now the Labour Party thinks wealthy buyers who’ve latched on to the most expensive electric car (el-bil) models have enjoyed enough tax advantages, and wants to impose new taxes on those costing more than NOK 600,000 (USD 67,000). That would boost […]

Tax lists grab less attention

Norway’s state tax authority (Skatteetaten) made its tax lists public again this week, displaying the taxable income and net worth of all Norwegian taxpayers plus how much tax they actually paid last year. There was less media hype, however, now that most have realized how the numbers can be deceiving. Income figures, for example, are […]