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Norway 2020 Budget Measures Include New VAT Rules for Imported Goods and Amendments to the Interest Deduction Restriction and the R&D Incentive

17 October 2019

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Proposed Changes

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Norway

The Norwegian Parliament is considering the State Budget for 2020, which was presented by the Ministry of Finance on 7 October 2019. Some of the main tax-related aspects of the Budget include the following: The standard corporate and individual income tax rates are maintained at 22% and the progressive individual tax bracket will be adjusted as follows: up to NOK 180,800 - 0% over NOK 180,800 up to 254,500 - 1.9% over NOK 254,500 up to 639,750 - 4.2% over NOK 639,750 up to 999,550 - 13.2% over NOK 999,550 - 16.2% The NOK 350 tax-free limit for imported low-value...