Norway MOF Updates 2022 Tax Rates

The Norwegian Ministry of Finance Jan. 10 updated the tax rates for 2022. The announcement include measures to set the: 1) financial tax rate at 22 percent for 2021 and 2022; 2) ground rent tax for hydropower at 47.4 percent; 3) social security contribution rate at 8 percent on business income; 4) maximum individual tax rate for 2021 and 2022 at 47.4 percent for taxpayers covered by the pension income deduction; 5) corporate tax at 22 percent; and 6) depreciation rate at 30 percent for electric vans. The announcement further includes the tax treatment of income, pensions, and prices for ...