Norway MOF Announces 2022 National Budget

Oct. 15, 2021, 5:00 AM

The Norwegian Ministry of Finance Oct. 12 announced the 2022 national budget. The budget includes measures that would: 1) increase environmental tax by 28 percent on non-quota greenhouse gas emissions; 2) reduce the electricity tax by 0.015 Norwegian kroner (US$0.0018) per kilowatt hour; 3) increase the carbon dioxide (CO2) tax for petroleum business and mineral products; 4) increase the standard deduction for the wealth tax to 1.6 million kroner (US$187,704); 5) introduce tax incentives for investments in small start-up companies; 6) increase the travel deduction rate to one common rate of 1.65 kroner (US$0.19) per kilometer; and 7) convert the ...

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