The Norwegian Ministry of Finance has published an overview of rule changes from 1 July 2017, including those in the Revised Budget for 2017 issued in May. Some of the main changes are in relation to the financial activity tax, which include:
Also included is a new tax incentive scheme for long-term investments in start-ups, which provides for an annual deduction of up to NOK 500,000 for investments made by individuals or their investment companies into active start-ups that are at most six years old. The minimum required investment is NOK 30,000 and the maximum is NOK 1.5 million per company, and the investment must be held for at least three consecutive years. The investee company must have less than 25 employees (annual average), have an annual social security (wage) basis of at least NOK 400,000, and its income and total assets may not exceed NOK 40 million.
Click the following link for the overview of the changes (Norwegian language), which also includes various other tax and non-tax changes.
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