Norway Parliament Considers Bill to Amend Various Taxes Under 2022 National Budget Package

Nov. 12, 2021, 5:00 AM

The Norwegian Parliament (Stortinget) Nov. 8 accepted for consideration Bill No. Prop. 1 LS Appendix 1 (2021–2022), to amend various taxes under the 2022 national budget package. The bill includes measures to: 1) increase the environmental tax by 28 percent on non-quota greenhouse gas emissions; 2) reduce the electricity tax by 0.015 Norwegian kroner (US$0.0023) per kilowatt-hour; 3) increase the carbon dioxide (CO2) tax for petroleum business and mineral products; 4) increase the wealth tax rate to 0.95 percent and increase the wealth tax standard deduction to 1.6 million kroner (US$188,412); 5) introduce tax incentives for investments in small start-up ...

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