How much tax will you pay in Norway?

Anyone who earns more than 69 650 NOK in Norway over a full year (for a shorter stay, the amount is reduced proportionally) must pay tax.

If you earn money in Norway, this text is for you. You will learn what you pay for, how much you pay and from which amounts you pay.

So let us explain what we pay for and how to check the most important thing - how much will I pay?

What taxes do we pay in Norway?

As we all know, we pay tax on something. In Norway, we can distinguish several types of tax, grouped by the income they are paid on:

Skatt fra alminnelig inntekt, or standard income tax of 22%

We only pay it once our earnings over the full year exceed 163 426 NOK (for salaried employment). For a shorter stay, this amount is reduced proportionally.

Here we have two rates:

• 22% for most people throughout Norway and for business owners
• 18,5% for people living in the Troms and Finnmark zones

Trygdeavgift, or social insurance contribution

We pay it when the Norwegian contribution applies to us and only once our earnings over the full year exceed 69 650 NOK. For a shorter stay, this amount is reduced proportionally.

Depending on the source of income, we have different rates:

• 7,8% for income from salaried work, benefits, income from companies engaged in fishing and childcare
• 5,1% for pension income
• 11% for income from business activity (ENK only, in the case of work in AS: 7,8%)

Trinnskatt, or progressive tax

The more we earn, the more we pay. We cannot deduct anything from this tax.

We only pay it once our earnings over the full year exceed 208 050 NOK. For a shorter stay, this amount is reduced proportionally.

In this case, we have different thresholds, after which we pay the relevant percentage on the amount above the given threshold (that is, only on the excess). The thresholds mentioned are:

• 0 to 208 050 – we do not pay trinnskatt
• 208 051 to 292 850 – we pay 1,7% on the excess
• 292 851 to 670 000 – we pay 4% on the excess
• 670 001 to 937 900 – we pay 13,6% on the excess
• 937 901 to 1 350 000 – we pay 16,6% on the excess
• 1 350 001 and above – we pay 17,6% on the excess

Formueskatt, or wealth tax

We pay it once wealth exceeds 1 700 000 NOK, and it amounts to 1%. Above 20 MLN, we pay 1,1%.

Tax residents in Norway pay on the value of assets worldwide, while tax residents in other countries pay only on Norwegian assets.

In this case, we have the following rates, depending on the value of the assets:

• 0 to 1 700 000 – we pay nothing
• 1 700 001 to 20 000 000 – we pay 1%
• 20 000 001 and above – we pay 1,1%

NOTE: All the rates given apply to 2024!

How do I check how much I will pay?

Let us get to the point - how much tax will I pay?

We have two options here:

1. Calculate everything manually based on the rates given, remembering certain standard deductions such as minstefradrag or personfradrag
2. Use the tool prepared by Skatteetaten - Skattekalkulator (click here). All you need to do is enter all the required information and you will find out exactly how much tax you will pay. Just as in the main graphic for this article.

If you would like to talk about accounting with us - please contact us: +47 21 38 38 21. We answer Mon.-Fri. from 9:00 - 21:00 and will be happy to help!