Norway Gazettes Regulation Setting Asset Valuations, Work-Related Deductions for 2025

The Norwegian Official Gazette Dec. 3 published Regulation No. FOR-2025-12-01-2404, setting asset valuations and work-related deductions for the 2025 tax assessment. The regulation includes measures setting: 1) the asset value cap for newly built leisure properties, including land, at 30 percent of the cost price, and capping the market value at 30 percent; 2) the deduction for additional hotel costs for business trips of at least one day at 678 Norwegian kroner (US$67) daily, or 542 kroner (US$53) daily if breakfast is included; 3) the commuter deduction at 1.83 kroner (US$0.18) per kilometer, regardless of distance; 4) the deduction for ...