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Corporate Tax in Norway

Corporate Tax in Norway

The CIT or the tax imposed on corporate income in Norway, has continued to decrease since 2000 now reaching the lowest rate in the past 20 years. The general amount charged for companies is of 24%, with a few exceptions such as the financial sector, for which the tax rate is assessed at 25%. Our specialists in company formation in Norway can give you all information regarding the taxation of your income in this country.

Main provisions regarding corporate tax in Norway

If you open a company in Norway, as a resident you will be subject to the corporate tax on your worldwide income. The non-resident companies are also subject to the corporate tax in Norway, but only if the business that they are involved in is managed from this country. The payment of the corporation tax is due to the Norwegian government. 

There are also exceptions for income coming from particular type of activities. There are also several investment sectors such as petroleum industry or hydro power to which special tax regimes are applied. Our specialists in company formation in Norway can clarify the situations in which you might enter a special taxation program and they can offer you all information regarding the taxation of your corporate income in this country.

Our company registration agents can also assist with VAT registration in Norway. When meeting the minimum turnover required, they can assist both domestic and foreign businesses dealing with VAT-taxable supplies in order to obtain local VAT numbers. Contact us for detailed information on our services.

Norway is the best option if you are seeking for a new country to conduct business in. This Scandinavian country is one of the most developed states in the world from a technological point of view. If you choose to open a company in Norway, our local representatives can offer custom solutions that will let you take advantage of these benefits.

More aspects regarding the corporate tax in Norway

The corporate tax in Norway is calculated by reference to the net profit of a company, which can be obtained by subtracting the expenditure costs from the income of a business. The foreign investors in Norway paying corporate tax in this country might enter the provisions of double taxation treaties between Norway and their country of residence. This might give them the possibility to deduce part of the taxes payed in Norway through applying for credits in their country of residence.  

The corporation tax is calculated annually and contributes to the budget of the country which in return provides a safe climate and optimal conditions for the development of enterprises in several business areas. The fact that the rate continues to drop is encouraging for worldwide investors in Norway. 

Don’t hesitate to contact one of our experts in company formation in Norway if you need help with complying with the taxation system in this country in situations such as: the payment in due time of the corporate tax or VAT registration.