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Lowest corporate taxes in ten years
statistikk
2015-12-17T10:00:00.000Z
Establishments, enterprises and accounts
en
skattepl, Tax statistics for companies, taxable income, taxable wealth, assessed tax, corporation tax by industry, due in arrears, tax position, type of tax (for example income tax, capital tax, natural resource tax), oil production companies, power companies, shipping companies, onshore activitiesCorporate tax , Establishments, enterprises and accounts
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The statistics present assessed taxes for companies. Assessed taxes for companies stood at NOK 209 billion in 2014.

Tax statistics for companies, 2014

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Lowest corporate taxes in ten years

Assessed corporate taxes totalled NOK 209 billion in 2014, which was a fall of NOK 46 billion from 2013 and the lowest since 2004.

Total assessed tax, by tax rulePublished 17 December 2015
AmountPer cent
1Including foreign shelf companies assessed by the Petroleum Tax Act.
Total208 597100.0
Oil extraction companies1140 15767.2
Power companies6 5903.2
Shipping companies1890.1
Land based activities61 66129.6

Source: Statistics Norway

Only NOK 2.6 billion of the decrease resulted from the changes in corporate tax rates in 2014. Oil companies experienced the lowest tax since 2004 and accounted for NOK 42 billion of the fall in corporate taxes. Assessed income tax for oil companies amounted to NOK 57 billion, assessed special taxes stood at NOK 96 billion, and paid exploration expenses totalled NOK 13.5 billion in 2014.

Tax for land-based activities still falling

The decrease in taxes for land-based activities continued in 2014. Assessed taxes fell from 2013 by NOK 1.9 billion to NOK 62 billion in 2014. The decline was largely due to the reduction in the income tax rate in 2014, from 28 per cent to 27 per cent.

Lowest tax for power companies since 2005

Assessed taxes for power companies went down from 2013 by 21 per cent to NOK 6.6 billion in 2014, which was the lowest for power companies since 2005. All taxes for power companies decreased, except tax on natural resources, which stayed almost the same as the previous year.

Income tax constituted most of the decrease in taxes for power companies. Taxable income amounted to NOK 7.9 billion in 2014, which was the lowest since special tax rules for power companies were introduced in 1997. Assessed income tax fell 36 per cent from the year before, to NOK 2.1 billion in 2014.

Tax on ground rent income was NOK 616 million lower than in 2013, and stood at NOK 4.3 billion in 2014.

Changes in tax ratesOpen and readClose

The Norwegian parliament made the following changes to tax rates for 2014: the income tax rate was reduced from 28 per cent to 27 per cent, the tax rate for tax on ground rent income was increased from 30 per cent to 31 per cent, and the tax rate for special taxes was raised from 50 per cent to 51 per cent.