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Norway: Tax relief proposals in coronavirus-related measures (COVID-19)

Norway: Tax relief proposals

Norway’s government on 13 March 2020 presented proposals to amend the income tax law in response to the coronavirus (COVID-19) epidemic. In addition, there are plans for proposals for industries and businesses that are particularly affected by COVID-19.

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The proposals currently include measures that would:

  • Allow application of up to NOK 30 million of corporate losses in 2020 against taxed profits the previous two years
  • Allow deferred payments of wealth tax on business assets for the 2020 financial year

Furthermore, certain businesses that were to pay their first installment of withholding tax on 15 March will be granted more time (until 1 May 2020).

Another measure will allow self-employed persons realizing a loss of income to adjust their tax deductions from the first tax period.


Read a March 2020 report (Norwegian) prepared by the KPMG member firm in Norway

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