Income Tax Rates Norway

Here you find tax rates and limits for the income years 2020 and 2019.

Income tax rates norway. Exemptions may occur in the tax law or in a tax treaty. Present in 5 months the bracket starts at nok. Income tax is split into a base rate and a step tax to allow for progressive taxation. You got to translate an amount in dollars to norwegian currency nok.

The most important taxes in terms of revenue are vat income tax in the petroleum sector employers social security contributions and tax on. If your gross income exceeds nok 180 800 a year or gross nok 15 067 a month a progressive bracket tax is levied on top of the 22 income tax. Tax on dividends paid to shareholders not resident in norge or a lower tax rate according to a. If your gross income exceeds nok 174 500 a year or gross nok 14 542 a month a progressive bracket tax is levied on top of the 22 income tax.

The income tax for 2020 is 22 of net income after deductions. Income tax rates in norway in 2020. All employees working in norway will as a general rule be taxable to norway. Tax rates and limits 2020.

14 9 169 are free of income tax 47 475 45 income tax 5 5 solidarity surcharge based on the total tax bill 19 standard rate 7 reduced rate taxation in germany georgia. Many direct and indirect taxes exist. Tax on ordinary income. Norway highlights 2020 page 4 of 8 a progressive bracket tax also applies to personal income with four thresholds.

Personal income tax rate in norway averaged 46 41 percent from 1995 until 2020 reaching an all time high of 55 30 percent in 2003 and a record low of 38 20 percent in 2019. The marginal rates are 1 9 4 2 13 2 and 16 2 and the corresponding thresholds are nok 180 800 nok 254 500 nok. Countries with similar tax brackets include sweden with a maximum tax bracket of 25 00 spain with a maximum tax bracket of 27 13 and canada with a maximum tax bracket of 29 00. Persons in finnmark og nord troms.

Tax on pension paid to to persons not resident in norway. The personal income tax rate in norway stands at 38 20 percent. Those who live in finnmark or nord troms will pay 18 5. Norway has one of the lowest income taxes in the world charging a maximum income tax of 24 55.

Taxation in norway is levied by the central government the county municipality fylkeskommune and the municipality kommune in 2012 the total tax revenue was 42 2 of the gross domestic product gdp. Credit cards in norway. This page provides norway personal income tax rate actual values historical data forecast chart statistics economic calendar and news. The base rate fellesskatt of income tax in norway is 22.

If you want to know what the tax rate is in norway the easiest way to check if to try the government tax calculator.