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Most corporate tax from oil companies
statistikk
2008-12-19T10:00:00.000Z
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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Tax statistics for companies, 2007

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Most corporate tax from oil companies

23 oil companies accounted for three quarters of a total of NOK 261 billion assessed in taxes in 2007.

Mistakes in the statistics corrected in later publications

New rules were introduced in petroleum taxation in 2005, and these affect the figures for tax statistics on companies. The figures in this article do not reflect the corrections made. For new and updated figures, see tax statistics for companies and the tables therein (2009) (published on 20 December 2010, corrected on 25 January 2011).

For further information on the corrections and why they were made, see the article " Correction of statistics - paid exploration expenses ".

Oil companies were assessed income tax of NOK 72 billion and special taxes of NOK 120 billion in 2007. Assessed taxes for oil companies totalled NOK 192 billion, which was NOK 28 billion less than in 2006. This contributed to a decrease of NOK 20 billion or 7 per cent in total assessed corporate taxes from 2006 to 2007.

Decline for power companies

Power companies also experienced a decrease in assessed taxes in 2007, being assessed NOK 2.5 billion less tax than the previous year. They had NOK 4.3 billion in assessed income tax, NOK 2.6 billion in assessed tax on ground rent income and NOK 1.5 billion in assessed tax on natural resources in 2007.

Continued growth for land-based activities

Companies assessed pursuant to ordinary tax rules had a growth in assessed taxes for the fifth successive year. Total assessed taxes for these companies amounted to NOK 60 billion, which was NOK 9 billion or 17 per cent more than in 2006.

Changed tax rules for shipping companies

Tax rules for shipping companies taxed by the special rules for limited shipping companies were changed with effect from the 2007 fiscal year. According to the changes, profit from shipping became tax free, and shipping companies must enter as income the latent tax obligations they incurred under the previous tax regime. The changes contributed to a total of NOK 1.6 billion in assessed taxes for shipping companies in 2007.

About the statistical basis

The statistics are based on the Directorate of Taxes’ register of non personal tax payers and include 219 856 limited companies and other corporations that pay tax in arrears. Most of the companies are taxed according to the ordinary tax rules, but there are exceptions. Power companies are taxed according to the Taxation Act Chapter 18, while shipping companies may choose to be assessed by the special rules for shipping companies according to the Taxation Act Section 8-10 to 8-19. All companies that are engaged in oil extraction on the Norwegian continental shelf or companies that are in pipeline transport, and foreign companies that provide services on the Norwegian continental shelf are assessed by the Petroleum Tax Act.

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