Country Report
Norway upstream fiscal summary
Report summary
Upstream licences in Norway are awarded during regular licensing rounds. Fiscal terms are fixed. Norway has a profits-based fiscal system featuring a corporate income tax (22%) and a special tax (71.8%). The corporate income tax, with adjustments, is deductible against the special tax, ensuring a total marginal tax rate of 78%. Norway is renowned for its tax stability; the marginal rate has remained unchanged since 1992.
Table of contents
- Basis
- Licence terms
- Government equity participation
-
Fiscal terms
- Bonuses, rentals and fees
- Indirect taxes
- Royalty
- Corporate income tax
- Ring fencing
- Base
- Income
- Deductions
- Rate
- Exploration costs
- Depreciation
- Losses
- Payment schedule
- Special tax
- Ring fencing
- Base
- Income
- Deductions
- Rate
- Transitional provisions
- Fiscal treatment of decommissioning
- Product pricing
- Norm price
- Summary of modelled terms
- Recent history of fiscal changes
- Stability provisions
- Split of the barrel and share of profit
- Effective royalty rate and maximum government share
- Progressivity
- Fiscal deterrence
Tables and charts
This report includes 17 images and tables including:
- Timeline
- Timeline detail
- Split of the barrel - oil
- Split of the barrel - gas
- Share of profit - oil
- Share of profit - gas
- Effective royalty rate - shelf and deepwater, oil and gas
- Maximum government share - shelf and deepwater, oil and gas
- State share versus Pre-Share IRR - oil
- State share versus Pre-Share IRR - gas
- Investor IRR versus Pre-Share IRR - oil
- Investor IRR versus Pre-Share IRR - gas
- Bonuses and fees
- Area rentals
- Indirect taxes
- Summary of temporary special tax changes
- Norway Concession
What's included
This report contains:
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