Norway MOF Announces 2023 Revised National Budget

The Norwegian Ministry of Finance May 11 announced the 2023 revised national budget. The budget includes measures that would: 1) reduce the product tax in the fishing industry by 1.9 percent, effective July 1; 2) increase the rates for deductions and tax-free coverage of meals for commuters who live in barracks and for long-distance transport drivers; 3) remove income tax liability for taxpayers who have a pension of less than 250,350 Norwegian kroner (US$23,426), provided that they don’t have other income sources; 4) postpone the ground rent tax on land-based wind power until tax year 2024; 5) discontinue the temporary ...