Assessed corporate taxes rose


Assessed corporate taxes totalled NOK 159 billion in 2017, which was an increase of 28 per cent from 2016.

Oil Companies, with an increase of 101 per cent, contributed NOK 39.8 billion to the growth in assessed corporate taxes. Assessed income tax for oil companies amounted to NOK 34.8 billion, assessed special taxes stood at NOK 61.5 billion, and paid exploration expenses were NOK 17.2 billion in 2017. Oil companies had a total of NOK 79 billion in assessed taxes in 2017.  

Tax for power companies still rising

Assessed taxes for power companies rose by NOK 1.9 billion to NOK 10.1 billion from 2016 to 2017. Assessed income tax for power was NOK 3.7 billion, down 2.7 per cent from the previous year. Tax on ground rent income stood at NOK 6.3 billion, up NOK 1.2 billion from 2016.     

Tax for land-based activities fell

Assessed taxes for land-based activities totalled NOK 69.8 billion in 2017, which was NOK 6.7 billion lower than in 2016.

Changes in tax rates

The Norwegian parliament made the following changes to tax rates for 2017: the income tax rate was reduced from 25 per cent to 24 per cent, the tax rate for tax on ground rent income was increased from 33 per cent to 34.3 per cent and the tax rate for special taxes was raised from 53 per cent to 54 per cent.