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Norway Announces Tax Breaks In Revised Budget

by Ulrika Lomas, Tax-News.com, Brussels

17 May 2018


Norway's Government on May 15, 2018, released a revised Budget, including a VAT exemption for electronic publications, changes to tax reliefs for corporates, and a simplified tax regime for foreign workers.

Beginning 2019, the changes to personal taxation for foreign workers will see the introduction of an optional flat 25 percent rate regime, without eligibility for deductions. An existing "special allowance for foreign workers" will be repealed.

Other changes include reforms to rules for natural resources firms. It also includes the introduction of new administrative rules for claims for reduced tax on dividends for foreign shareholders.

The changes for employers focus on tax rules for benefits in kind. Savings tax rules will also be amended and the beer brewing and reindeer industries will receive new tax breaks.

TAGS: tax | value added tax (VAT) | Norway | tax breaks | dividends | Other

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