Executive summaryOn 31 August 2021, the Norwegian Government announced proposals for changes in Norway’s petroleum taxation from 2022. The consultation documents regarding the proposed changes were released on 3 September. The main features are:Investment costs (Section 3b fixed assets) are expensed immediately in the special tax base. This immediate expense replaces the current depreciation and uplift deductions which will be discontinued. The change only applies to new investments from 2022, and not to investments covered by the temporary rules introduced in 2020. For background, see EY Global Tax Alert, Norway’s Government proposes temporary tax stimulus measures for oil and gas...