In 2020, 9.1% less tax was paid in Norway

In 2020, a total of NOK 858.4 billion was paid in tax in Norway. That is NOK 85.6 billion, or 9.1%, less than in 2019. The reason? The corona measures.

The tax accounts from Statistics Norway (SSB) show that the reduction in tax payments came primarily from the oil and gas industry. 

A total of NOK 28.4 billion was paid in tax on oil and gas extraction in 2020 by the petroleum sector. 

That is as much as NOK 105.1 billion less than in 2019. The payments are related to a lower recovery rate due to the corona measures. 

However, SSB points out that since the measures have a more long-term perspective, it is not yet possible to assess the measures’ total effect.

Payroll tax revenues fell by 4.1%

Personal taxpayers accounted for the largest share of tax payments. They paid NOK 726 billion last year, which is an increase of 0.8%. 

Revenues from payroll tax – which companies pay – have decreased by 4.1%. 

Here, the authorities reduced the tax by 4% in May and June as one of the corona pandemic measures.

The municipal administration’s tax revenues decreased by 1%, which must also be seen in connection with the corona measures and their effect on the Norwegian economy, as these revenues usually increase from year to year.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayNews

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