Substantial reduction in assessed corporate taxes

Oil platform, trade surplusOil platform.Photo

Assessed corporate taxes stood at NOK 139 billion in 2015, which was a decrease of NOK 69 billion, or 33 per cent, from 2014.

Oil companies, with a decrease of NOK 70 billion, accounted for most of the fall in corporate taxes.

Assessed income tax for oil companies amounted to NOK 34 billion, assessed special taxes totalled NOK 52 billion, and paid exploration expenses stood at NOK 16.7 billion in 2015. Oil companies had a total of NOK 70 billion in assessed taxes in 2015.

Decline for power companies continued
The fall in assessed taxes for power companies continued in 2015, with the taxes dropping from 2014 by NOK 1.2 billion to NOK 5.3 billion in 2015. Income tax was NOK 1.3 billion in 2015, which was a reduction of 38 per cent from the previous year. Tax on ground rent income was NOK 1.0 billion lower than in 2014, and amounted to NOK 3.3 billion in 2015.

Tax for land-based activities rose
Assessed taxes for land-based activities rose from 2014 by NOK 2.4 billion to NOK 64 billion in 2015.


Source: SSB / Norway Today