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Consultation on resource rent tax on onshore wind power
16/12/2022 Press release Ministry of Finance, Ministry of EnergyThe Government proposes to introduce a resource rent tax on onshore wind power from 2023 and is today sending the proposal for consultation, as described in the State Budget for 2023. It is one of several resource rent proposals which will lead to
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The National Budget 2023: More for hospitals and 24-hour treatment in the mental healthcare sector
07/10/2022 Press release Ministry of Health and Care ServicesThe government is proposing to increase the operating budget for Norway’s hospitals by a total of NOK 2.7 billion. NOK 2 billion will go to increasing activity growth, while NOK 700 million will go to increasing basic funding. NOK 150 million of
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The National Budget 2023: Historic investment in the Regular General Practitioner Scheme
07/10/2022 Press release Ministry of Health and Care ServicesThe government is proposing a NOK 690 million boost to the Regular General Practitioner Scheme in 2023, resulting in a total annual budget of NOK 920 million. In what is an otherwise tight budget, the government has still been able to accommodate an
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The National Budget 2023: Boost for the mental health and substance abuse fields
07/10/2022 Press release Ministry of Health and Care ServicesThe government is prioritising health and addiction services, and is to commit NOK 300 million to strengthening the area.
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Strengthens the Armed Forces and prioritizes daily preparedness and operations
06/10/2022 News story Ministry of DefenceThe government's proposal for the defence budget for 2023 prioritizes the nation's security and preparedness, and shows solidarity in a troubled time. - The budget helps to keep our own population safe, both for today's threats and those that may
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MFA - Budget proposal 2023: Giving priority to crisis response, food security and climate change adaptation
06/10/2022 Press release Ministry of Foreign AffairsThe budget proposal for 2023 reflects the situation caused by the war in Ukraine. Areas to be given priority are humanitarian aid, efforts to combat hunger and climate change, and increased efforts to promote women’s rights. The Government has
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The National Budget 2023: A budget for security and fair distribution
06/10/2022 Press release Ministry of FinanceThere is a war and an energy crisis in Europe. High inflation is affecting people’s lives. The Government’s response is a fair and responsible budget, which improves distribution and enhances security at a challenging time.
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The National Budget 2023: Key Figures in the National Budget 2023
06/10/2022 Press release Ministry of FinanceTo ensure simultaneous access to information which may be market sensitive, the Ministry of Finance publishes selected key figures at 8:00AM prior to the budget launch at 10:00 am. More detailed projections will be published with the National Budget.
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The National Budget 2023: Adjusting the tax rules for the petroleum sector
06/10/2022 Press release Ministry of FinanceOil and gas prices have increased significantly since the introduction of the temporary tax rules for the petroleum sector in 2020. As a result of this, the Government will now be adjusting these rules.
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Norway to increase support for humanitarian efforts and government administration in Ukraine
30/09/2022 Press release Ministry of Foreign Affairs‘The brutal war continues and Ukrainians are facing a cold winter. The scale of humanitarian need is enormous. We have proposed that NOK 2 billion of Norway’s support for Ukraine in 2022 should be used for humanitarian efforts and to help the
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High-price contribution on wind and hydropower
28/09/2022 News story Ministry of FinanceThe Government is proposing to introduce a high-price contribution, with the rate set at 23 per cent of the electricity price in excess of NOK 0.70 per kWh. The contribution is designed as an excise duty payable to the treasury. The tax will be
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Resource rent tax on onshore wind energy
28/09/2022 News story Ministry of FinanceThe government proposes the introduction of resource rent tax on onshore wind energy as from 2023. The proposal will be referred for public consultation before the end of the year, and involves the taxation of resource rent at an effective rate of
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Adjustment of local and county authorities’ general grant
28/09/2022 News story Ministry of FinanceThe Government proposes a one-year deduction in the general grant to local and county authorities with income from licence power. The proposal applies to local and county authorities in the areas with the highest electricity prices.
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Profits from natural resources will be better distributed
28/09/2022 Press release Ministry of Finance, Office of the Prime MinisterEnergy producers and the aquaculture industry make billions of kroner on our common resources. The Government is now proposing that more of the value created should go back to society.
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Resource rent tax on aquaculture
28/09/2022 News story Ministry of FinanceThe Government is proposing to introduce a resource rent tax on aquaculture from 1 January 2023. This proposal will be sent out for consultation today. Following the consultation, the Government will return to the Storting with a bill that will
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Increased resource rent tax on hydropower
28/09/2022 News story Ministry of FinanceThe Government is proposing to increase the effective resource rent tax rate on hydropower from 37 per cent to 45 per cent, with effect from the 2022 fiscal year.
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Report on long term perspectives for the Government Pension Fund Global submitted by committee
26/09/2022 Press release Ministry of FinanceToday, a committee that has been reviewing long term perspectives for the Government Pension Fund Global (GPFG) submitted its report, NOU 2022: 12 The Fund in a changing world, to the Ministry of Finance. The committee was chaired by Ulf Sverdrup,
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The IMF's Article IV consultation for 2022 has been completed
20/09/2022 News story Ministry of FinanceOn 9 June, the IMF's delegation to Norway submitted its assessment of the Norwegian economy and Norwegian economic policy to the government. The full report has now been finalized by the IMF Board..
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The Council has decided to renegotiate the agreement between Norway and the EU to hinder VAT fraud
22/06/2022 News story Ministry of FinanceThe Council of the European Union decided Friday 17 June to re-open negotiations of the agreement on administrative VAT cooperation between Norway and the EU.
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IMF: Strong economic growth
09/06/2022 Press release Ministry of FinanceThe IMF conducts a yearly assessment of the Norwegian economy. As part of this year’s assessment an IMF delegation has spent over a week discussing recent economic developments and Norway’s economic policy with authorities, academic and financial