Norway 2016 Budget Measures Enacted

Norway enacted legislation for the 2016 Budget measures on 18 December 2015. The main measures include:

• The corporate tax rate is reduced from 27% to 25% in 2016 (a 22% rate is planned in 2018);
• The ordinary individual income tax rate is reduced from 27% to 25%, and the surtax is replaced with a new progressive tax with five brackets:
  • up to NOK 159,800 - 0%
  • over NOK 159,800 up to 224,900 - 0.44%
  • over NOK 224,900 up to 565,400 - 1.7%
  • over NOK 565,400 up to 909,500 - 10.7%
  • over NOK 909,500 - 1…