How much is tax-free in Norway for individuals? The answer to this question, like many others in the field of accounting, we have the answer.
Well, in Norway we have it several free amounts from tax. You read that right – several amounts, not one.
However, it is accepted to say that the free amount is approximately NOK 70. How much truth is there in this? Readto find out.
Tax-free amounts
The free amount is simply that limit amount, below which we don't have to pay taxes
However, in Norway several types of taxes. They have as well different amounts :
- Trygdeavgift (insurance premium):
- Free amount: 69 650 NOK on 2024
- Skatt fra alminnelig inntekt (tax 22%):
- Free amount: 163 426 NOK on 2024
- Trinnskatt (progressive tax):
- Free amount: 208 050 NOK on 2024
- Formueskatt (property tax):
- Free allowance for singles: NOK 1 on 2024
- Tax-free amount for married couples with community property: NOK 3 on 2024
Any amount is free proportionally decreases do the length of our stay In Norway.
How much is the completely free amount in practice?
Because all these taxes are calculated together (except Formueskatt), the amount free from all earnings is only the lowest amount of all free people.
Also in practice the fully free amount is 69 650 NOK for 2024. In 2023, this amount was the same.
For a shorter stay it is proportionally less. For example:
- If we have been in NO for 8 months, the allowance is NOK 46.
- If we stayed for only 2 months, the allowance is NOK 11.
- And so on, we always have to calculate it proportionally.
If you want to ask about taxes, benefits or other official matters, please contact us: +47 21 38 38 21.
We collect Mon.-Fri. from 9:00 a.m. to 21:00 p.m. and we will be happy to help!
