Many expected the Government to present further proposals for direct and indirect taxes. However, many of these proposals have not been put forward.
The previously announced rules for taxation of private consumption in companies, commonly referred to as the "monster tax", has been postponed. In the National Budget for 2023, it was announced that an adjusted proposal would be presented in 2023, with the aim of entering into force from 2024. You can read more about taxation of private consumption in companies in our newsletter of 12 August 2022.
In the National Budget for 2024, the Government points out that it is important, but demanding, to find a good balance between the conflicting interests. The Government therefore needs more time to work on an adjusted proposal and aim to present it in 2024, effective from 2025. The control of private consumption remains a priority for the tax authorities.
Resource rent tax on offshore aquaculture
Offshore aquaculture is still at an early stage, but there have been speculations as to whether the Government would nevertheless introduce a resource rent tax on offshore aquaculture in the National Budget for 2024. However, the Government states in the budget documents that a resource rent tax on offshore aquaculture will not be introduced for now.
Tourist tax deferred
The Norwegian Parliament has asked the Government to put forward a proposal for a municipal/state tourist tax no later than in connection with the National Budget for 2024.
The Ministry of Finance needs more time to investigate before presenting a proposal and announces a follow-up of the request later.
Tonnage tax regime
The Norwegian Parliament has asked the Government to consider whether companies qualifying for tonnage tax regime also can perform ordinary business activities, and such activities not qualifying for tonnage tax regime treatment but to be ordinarily taxed.
Such amendment would ease some of the strict requirements in the Norwegian tonnage tax system and make the system more in line with tonnage tax regimes of certain other countries. Unfortunately, the Ministry of Finance has decided not to propose any such amendments to the tonnage tax regime, due to the need to notify ESA on amendments of the regime.