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Norway

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Budget for 2007 – details

On 6 October 2006, the red-green coalition government presented the national Budget for 2007. Under the Budget, both the corporate income tax rate and the flat tax rate on general income received by individuals will remain unchanged at 28%. The Budget does not entail any major changes to the Norwegian tax system. The following amendments were, however, presented.

Direct taxation

Corporate taxation.

Employer's social security contributions

The government proposes to implement a scheme of regionally differentiated social security contributions paid by employers. The EFTA Surveillance Authority approved this scheme on 19 July 2006.

Other direct taxes.

Skattefunn

Skattefunn is an entitlement-based tax credit for research and development costs incurred in projects approved by the Research Council of Norway. The government proposes to introduce a maximum hourly rate and a maximum number of hours per year as far as the inclusion of internal research and development (R&D) personnel in the tax credit base is concerned.

Other direct and indirect tax changes

allowances for jointly owned capital provisions on the part of certain cooperative enterprises will be reintroduced. The purpose of this scheme is to reduce the tax on enterprises in "established cooperatives" within the agriculture, fisheries and consumer sectors.

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