More content from the ministry

Profits from natural resources will be better distributed

Energy 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.

High-price contribution on wind and hydropower

The 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

Resource rent tax on onshore wind energy

The 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

Adjustment of local and county authorities’ general grant

The 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.

Resource rent tax on aquaculture

The 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

Increased resource rent tax on hydropower

The 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.

NOU 2022: 12 - The Fund in a changing world

The Government Pension Fund Global and new economic and political developments

Report on long term perspectives for the Government Pension Fund Global submitted by committee

Today, 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,

The IMF's Article IV consultation for 2022 has been completed

On 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..

The Council has decided to renegotiate the agreement between Norway and the EU to hinder VAT fraud

The 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.

IMF: Strong economic growth

The 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

Revised National Budget: Additional child-related expertise at asylum reception centres

The Norwegian Government proposes allocating NOK 17.2 million in funding to increase child-related expertise at asylum reception centres.

The Revised National Budget: Government proposes record-high aid budget of NOK 44.9 billion

‘The war in Ukraine is having impacts across the globe. The number of people who have been displaced is rising and more people than ever before do not have enough to eat. The Government is proposing an increase of NOK 3.6 billion in the aid budget,

Revised state budget: Health and Social Services Ombudsman to be bolstered

The government is bolstering the budget of the Health and Social Services Ombudsman in its revised state budget. This will enable it to continue serving patients and healthcare users throughout Norway.

Revised state budget: Government launches new public health campaign focusing on mental health

The government wants to boost mental public health. This is why ‘ABC For Good Mental Health - A Public Health Campaign’ is being launched. Its goal is to increase public knowledge about mental health, promote good mental health and prevent mental

Revised state budget: Ombudsman for the Elderly to close

The government has announced in its revised state budget that it intends to dissolve Ombudsman for the Elderly (Eldreombodet) as of 1 July 2023. As a result, the budget also proposes a NOK 1 million reduction to the service’s grant for the current

Revised National Budget: Sound economic governance

The Norwegian economy is unusually strong and employment is at a record low. At the same time, however, Omicron, high electricity prices and war in Europe have necessitated unforeseen financial allocations. In the Revised Budget, the government has

Revised National Budget: Key figures in the Revised National Budget 2022

To secure equal access to information that might be market sensitive, the Ministry of Finance publishes selected key figures prior to launching the Revised National Budget at 10:45 a.m. More detailed estimates will be published with the Revised

The EU Commission recommends negotiations of an agreement between Norway and the EU to hinder VAT fraud

The Commission adopted 26 April 2022 a recommendation to the Council to re-open negotiations of the agreement between Norway and the EU concerning administrative cooperation in the field of VAT. The purpose of the agreement is to combat

Consultation on a proposal for amendments to the Norwegian VAT Act regarding cross-border trade of services from businesses to consumers

The Norwegian Ministry of Finance hereby presents a proposal for amendments to the Norwegian VAT Act regarding cross-border sales of services from businesses to consumers (B2C). It is proposed that all purchases of remotely deliverable services from