Free Trial

Norwegian Oil Sector Targeted by Tax Hike

OIL

The Norwegian government plans to raise taxes on its oil and gas industry next year – increasing them by 2 billion Norwegian crowns.

  • “When aggregated over the years in which the temporary rules will apply, central government revenues are estimated to increase by 11 billion crowns,” Finance Minister Trygve Slagsvold Vedum said in a statement.
  • The proposal reduces the so-called uplift rate, a special tax deduction, to 12.4% from 17.69%, the finance ministry said.

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.