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Sigbjørn Sørensen - Lawyer & partner18. October 2024 1 min read

The 2025 national budget: Key tax and duty changes

On October 7, 2024, the Støre Government presented the national budget 2025. Although the government plans to increase oil revenues, only minor changes have been proposed to the existing taxes and duties. The most significant change is the tightening of the “exit tax”. There were many opinions during the consultation process, but few of them were heard.

Another noteworthy change is the removal of the temporary 5% increase in employer contributions on salaries over NOK 850,000. Additionally, changes were proposed regarding the taxation of foreigners' income in the Norwegian economic zone and on the continental shelf.

Before the budget was presented, there was much anticipation of updates on the so-called "monster tax," which refers to the taxation of private consumption within companies. It is, therefore, notable that the tax seems to have been shelved. 

Read more about the key proposed changes in the tax and duty areas below:

  1. Wealth tax changes in the 2025 national budget
  2. The 2025 Norwegian national budget: Proposed changes to the exit tax
  3. New tax on foreign income in the economic zone and continental shelf
  4. Business taxation 2025
  5. National budget 2025: VAT, excise taxes and customs duties
  6. Personal taxation: Tax-free limit for surplus electricity income
  7. Updates on the personal taxes and fees in the national budget 2025
  8. Changes to the tax residency rules for dispatched and Nato employees
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Sigbjørn Sørensen - Lawyer & partner
Sigbjørn has tax law as his special area. He has extensive experience with both national and international tax law for companies and individuals. Sigbjørn also works with company law and assists with reorganizations and transactions. Sigbjørn has worked as a business lawyer since 2010, including at Deloitte, KPMG and BDO. He has also worked in the Taxpayers' Association and regularly gives courses and seminars. Sigbjørn started at Magnus Legal in 2022 and is the office manager for the Oslo office.
Sigbjørn Sørensen - Lawyer & partner14. May 2024 3 min read

Revised National Budget 2024 - The most important changes

Today at 10:45 AM, the proposal for the Revised National Budget was presented by Finance Minister Vedum. There were high ...
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Sigbjørn Sørensen - Lawyer & partner8. May 2025 9 min read

Private Limited Company in Norway: Why you need a Company Secretary

Operating a private limited company (“aksjeselskap” or “AS”) in Norway involves a range of legal and administrative duties. ...
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Sigbjørn Sørensen - Lawyer & partner7. June 2023 5 min read

Business in Norway - contract drafting and negotiation

Contracts governed by Norwegian law are interpreted in light of a number of elements in addition to the contract text itself. ...
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