No county contributed more tax credits last year than Rogaland. The oil area accounted for almost one-fifth of 476 tax credits from the counties.
When personal tax, company tax, and employer’s contributions are added together, the sum will be NOK 104 billion for Rogaland, Stavanger Aftenblad reported.
Oslo followed closely with 99 billion. Then Akershus and Hordaland. In total, the capital region, and the southern half of Western Norway accounted for 63%, almost two thirds of the payments.
Oslo and Rogaland are also at the top of the list of value creation, and here, the capital city leads the oil field. By 2016, oil extraction was no longer the country’s largest industry.
“Norway’s largest value creation in recent years was undoubtedly from oil extraction, but the recent oil price drop has led to other industries having higher value creation in 2016,” said Terje Roaldsvik Fanebust, CEO of DNB bank.
Finance, retail trade, industry, construction, transportation, and storage, all had a greater value creation effect. At the same time, it is worth noting that the ranking
doesn’t include oil recovery as a catalyst for activity in other industries.
© NTB Scanpix / #Norway Today