Payroll News

Norway MOF Explains Tax Relief Measures Due to Coronavirus

July 13, 2020, 5:00 AM

The Norwegian Ministry of Finance June 26 explained tax relief measures due to the coronavirus pandemic, effective July 1. Topics covered include: 1) the option to carry back up to 30 million Norwegian kroner (US$3.2 million) in 2020 losses against profits from the previous two years; 2) a deduction limit increase and the inclusion of employees under the start-up company deduction regime; 3) an increase in tax-free benefits to 5,000 kroner (US$534) for employee purchases of employer stock options; 4) a 4 percent reduction in the employer social security contribution rate for May and June and an extended payment deadline...

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