Norway MOF Proposes Updated 2025 Tax Rates, Deductions

The Norwegian Ministry of Finance Oct. 7 announced proposals for 2025 tax rates and deductions. The proposals include measures to: 1) increase the maximum tax deduction for pension income to 35,600 Norwegian kroner (US$3,305) from 34,350 kroner (US$3,189); 2) increase the commuter deduction to 1.83 krone (US$0.17) per kilometer from 1.76 krone (US$0.16) per kilometer; 3) reduce the social security contribution rate on wages to 7.7 percent from 7.8 percent, and on other business income to 10.9 percent from 11 percent; 4) continue the 32.1 percent ground rent tax on wind power, for an effective 25 percent tax rate, and ...