Norway 2020 Budget Measures Include New VAT Rules for Imported Goods and Amendments to the Interest Deduction Restriction and the R&D Incentive

The Norwegian Parliament is considering the State Budget for 2020, which was presented by the Ministry of Finance on 7 October 2019. Some of the main tax-related aspects of the Budget include the following:

• The standard corporate and individual income tax rates are maintained at 22% and the progressive individual tax bracket will be adjusted as follows:
  • up to NOK 180,800 - 0%
  • over NOK 180,800 up to 254,500 - 1.9%
  • over NOK 254,500 up to 639,750 - 4.2%
  • over NOK 639,750 up to 999,550 - 13.2%
  • o…