Reduced tax receipts

The decline in receipts can be largely ascribed to reduced taxes from the petroleum sector. Thus far payments from oil and gas amount to NOK 41 billion, a reduction of NOK 44 billion from the corresponding period last year, according to the statistics Tax accounts. Government measures following the corona pandemic include reimbursements greater than the receipts, such that the recorded amount of the special tax on petroleum in August was negative. Temporary amendments to petroleum taxation allow for increased deductions and refunds of tax-assessed deficits. Receipts from non-individual taxpayers, not including the petroleum sector, equal NOK 64 billion by the end of August, down 10.7 per cent from last year.

Reduced employers’ contributions

Receipts from individuals equal NOK 436 billion, down 3.7 per cent from last year. The decline is attributed to reduced employers’ contribution to the National Insurance Scheme. Corona measures implemented by the government include both reduced rates and extended deadlines for this payroll tax. Consequently, the first term installment was received in August, and the third term installment has been pushed to October.