Norway registered record-high tax revenues from oil and gas in 2021

Photo: Carina Johansen / NTB

The petroleum tax revenue for 2021 has been adjusted from NOK 114 billion to a record high of NOK 295 billion due to the high gas prices.

“The large increase can especially be attributed to the very high gas prices in the second half of 2021. The petroleum tax has never before been as high as it now seems to be,” tax director Nina Schanke Funnemark noted in a press release.

After obtaining updated figures from the oil companies, the petroleum tax for last year has been adjusted upwards by 159%, from NOK 114 billion to NOK 295 billion.

According to the Norwegian Tax Administration, the previous record was set back in 2008.

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

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