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Norway Budget 2017 Includes Tax Rate Cuts and Introduction of Financial Activity Tax

07 October 2016

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Proposed Changes

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Norway

On 6 October 2016, the Norwegian Ministry of Finance issued a release on the Budget for 2017. The main tax-related measures of the Budget include: A reduction in the standard corporate and individual tax rate from 25% to 24% in 2017 and a further reduction to 23% in 2018; Increases in the progressive tax bracket rates for individuals by 0.49% to 0.82%; A reduction in net wealth tax by introducing a 10% valuation discount for shares and operating assets (20% for commercial property) and associated debts; The introduction of a financial activity tax that will be comprised of a 5%...