Country Profile: Norway

Tax to GDP ratio: 43.44

Financial Transactions Tax (FTT): No tax in place

There is no FTT. However, entities within the financial services sector are, in general, subject to a special payroll tax. The tax rate is 5% and shall be calculated on the wage base. Companies where the employees use more than 30% of their time on financial services exempt from VAT will be comprised by the tax.

Source: PWC

Aviation: Yes – tax in place

  • Domestic and international flights: Air Passenger Tax: €8.77.
  • Domestic flights – VAT: 10%

Beneficiary of aviation tax: Not specified

Source: European Commission: CE Delft and Directorate-General for Mobility and Transport, Taxes in the field of aviation and their impact – Final report, Publications Office, 2019

Carbon Price: Yes – Carbon pricing instrument in place

National carbon tax:

  • Coverage: 65% of emissions
  • Price: NOK1,174 (US$107.78)
  • Revenue: NOK15,799 million (US$1,508 million)
  • Sectors covered: Electricity and heat, Industry, Mining and extractives, Transport, Aviation, Buildings, Agriculture, forestry and fishing fuel use, Waste
  • Offsetting: Not permitted

Oil and Gas Revenues

  • Total government revenue from oil & gas in 2022: $60.1 billion
  • Share of oil & gas activity covered: 100%

Source: ICTD (all types of taxes : royalties, income tax, mineral rent tax, production entitlements)

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