On 3 December 2023, the Norwegian Government, with support from the party SV, reached an agreement on the National Budget for 2024. From a tax perspective, the agreement involves alterations from the Government's original proposal, which includes adjustments in the bracket tax (No: “trinnskatt”) and certain climate-related taxes. Notably, the agreement does not include any further steps in the phase-out of the additional employer's national insurance contribution, which will apply for wages above NOK 850,000. An overview of the initially proposed National Budget can be found in the newsletter published on 6 October 2023.
The parties have agreed that the Government shall investigate the recommendations set forth by the tax committee concerning the deductible risk-free return (No: “skjermingsfradraget”) and the participation exemption method (No: “fritaksmetoden”). A thorough overview of the tax committee's report outlining a comprehensive tax reform in Norway can be found in the newsletter published on 10 January 2023.