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Norway's Revised National Budget for 2020 Presented

14 May 2020

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Proposed Changes

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Norway

Norway's Revised National Budget for 2020 was presented on 12 May 2020. Tax related measures of the budget are largely meant to support businesses impacted by the COVID-19 pandemic and include: Increased flexibility for taxpayer to request deadline extension for tax obligations due to difficulties arising as a result of the COVID-19 pandemic; A reduction in the late payment interest rate to 6%; A reduction in employer's national insurance contributions by 4% for the period May to June 2020; A temporary increase in the depreciation rate from 20% to 30% on group D assets (machinery, personal vehicles, movable furnishings, etc.)...