1

Budget 2015

•Keyfiguresforthe Norwegianeconomy•Mainfiguresofthe FiscalBudget•Directandindirect taxrates

2 3

Main figures of the Fiscal Budget and the Pension Fund excluding borrowing and lending transactions for 2014 and 2015 (NOK million)

Estimated accounts

2014

Adoptedbudget

2015

Total revenue of the Fiscal Budget 1274225 1331514Revenuefrompetroleumactivities 345946 341955Revenueexcludingpetroleumrevenue 928279 989559

Total expenditure of the Fiscal Budget 1121445 1201784Expenditureonpetroleumactivities 37002 38000Expenditureexcludingpetroleumexpenditure 1084443 1163784

= FiscalBudgetsurplusbeforetransferstothePensionFundGlobal 152780 129730

- Netcashflowfrompetroleumactivities 308944 303955

= Petroleumadjustedsurplus -156164 -174225+ TransferredfromthePensionFundGlobal 156164 174225

= Fiscal Budget surplus 0 0+ NetallocatedtothePensionFundGlobal 152780 129730+ Fundrevenuefrominterestanddividends 161700 178300

=TotalsurplusoftheFiscalBudgetandthePensionFund 314480 308030

The borrowing and lending transactions, and financing requirements, of the Fiscal Budget for 2014 and 2015 (NOK million)

Estimated accounts

2014

Adoptedbudget

2015

Lending,subscriptionforshares,etc. 177834 174779- Repayment 212310 103243- FiscalBudgetsurplus 0 0

= Netfinancingrequirements -34475 71536+ Debtinstalments 17206 61419

= GrossfinancingrequirementsoftheFiscalBudget -17269 132955

4 5

Market value of the Government Pension Fund GlobalNOKbillion.Endoftheyear

Elderly (67 years and above) to working age population (20-66 years) Percent

Government net petroleum revenues, structural non-oil budget deficit and expected real return on Government Pension Fund GlobalPercentofMainlandNorwayGDP

Expected real return on the Government Pension Fundand structural, non-oil deficit. NOKbillion.2015

Source:MinistryofFinance Source:MinistryofFinance

Source:MinistryofFinanceandStatisticsNorwaySource:MinistryofFinance

0

1000

2000

3000

4000

5000

6000

7000

1995 1999 2003 2007 2011 2015

0

10

20

30

40

50

60

1970 1990 2010 2030 2060

Norway

EU-28

Denmark

Sweden

-5

0

5

10

15

20

25

1970 2000 2030 2060

Central gov. netpetroleum revenues

Structural, non-oilBudget deficit

Expected returnon the Fund

0

25

50

75

100

125

150

175

200

225

2001 2003 2005 2007 2009 2011 2013 2015

Structural deficit

4 pct. real return

6 7

1 EffectsofanoilpriceincreaseofNOK10perbarrel.2 Incometaxandspecialtaxonpetroleumincome.AreafeeandtaxonCO

2emissionsetc.

3 Taxesandexciseduties.NetrevenuesfromSDØE(StateDirectFinancialInterest)anddividendsfromStatoil.

Sources:StatisticsNorway,MinistryofPetroleumandEnergy,MinistryofFinanceandMacrobond.

* Inaddition,theODAapprovedforeignaidincludesprimarycapitaltoNORFUNDandvalueaddedtaxrelatedtoforeignaid.

Ifthechildisnotinkindergarden,itisgivenfullcashbenefit.Ifthechildhaspartialdaycareinkindergardenat19hoursorlessperweek,thecashbenefitis50percentofthefullrate.

1 Applicableonlytosingleparentsreceivingtransitionalbenefit.2 From1stApril2014.3 From1stAugust2014.

Source:MinistryofFinance

Key figures for the petroleum sector

2013 2014 2015 2016

Oil price sensitivity 20151

Assumptions:Crudeoilprice,NOKperbarrel 639 656 650 558- CrudeoilandNLG 107 108 109 109-Naturalgas 109 107 106 108

NOKbillion:Paidtaxes2 206 178 174 146 2.5NetrevenuesfromSDØE 124 104 115 94 1.7Netcashflow3 345 297 304 255 4.2

Child benefit and cash benefit for 2014 and 2015

2014-rules 2015-rulesChange

2014-2015

Annualchildbenefitrate NOK11640 NOK11640 -

Singleparentrate(children0-3yearsold)1 NOK7920 NOK7920 -

ExtrachildbenefitallowanceinFinnmark,NorthTromsandSvalbard NOK02 NOK0 -

Monthlyfullratecashbenefitforchildrenaged13-18months NOK60003 NOK6000 -

Monthlyfullratecashbenefitforchildrenaged19-23months NOK60003 NOK6000 -

Fiscal Budget revenue and expenditure 2015, excluding borrowing and lending transactions (NOK billion)

Fiscal Budget revenue (excl. petroleum)989.6

SumdirectandindirecttaxesfromMainlandNorway 922.0Taxesonwealthandincome 259.0Employer’sandemployee’ssocialsecuritycontributions 302.9Valueaddedtax 256.2Excisedutiesontobaccoandalcohol 19.8Excisedutiesoncars,petrol,etc. 47.3Excisedutiesonelectricity 8.9Customsrevenue 3.2Otherindirecttaxes 24.7Revenuefromgovernmentbusinessoperations 2.1Interestanddividends 32.0Otherrevenue 33.5

Fiscal Budget expenditure (excl. petroleum) 1163.8

SumNationalInsuranceScheme 418.7Retirementpension 190.2Sicknessallowance 39.7Othersocialsecuritypayouts(socialcauses) 127.6Disabilityandmedicalrehabilitation 28.9Maternity,paternityandadoptionpay 19.1

Unemploymentbenefitandpaymentsrelatingtooccupationalrehabilitation

13.2

Generalgrantstolocalgovernments 152.8Regionalhealthenterprises(hospitals) 131.4

Transportandcommunications(including 54.7operationandmaintenanceofclassifiedroads)

Defence 43.8Highereducationandtertiaryvocationaleducation 32.5Foreignaid(ODAapproved)* 31.8Childbenefitandcashbenefit 17.0Policeandpublicprosecution 15.3AgriculturalAgreement 14.3Interestongovernmentdebt 12.9

Otherexpenditure 238.6

Petroleumadjustedsurplus -174.2Governmentnetcashflowfrompetroleumsector 304.0

8 9

GDP, seasonally adjusted volume indicies1q2008=100

Consumer pricesPercentagechangefromsamemonthpreviousyear

Oil adjusted Fiscal Budget surplus and overall Surplus of the Fiscal Budget and the Pension FundNOKbillion

Unemployment. Percentage of the labor force.Seasonallyadjusted

Sources:OECD,MacrobondandMinistryofFinance Source:StatisticsNorwayandMacrobond

Source:MinistryofFinanceSources:StatisticsNorway,NorwegianLaborandWelfareOrganizationandMinistryofFinance

- -

95

100

105

110

115

2008 2009 2010 2011 2012 2013 2014

Euro area

Mainland-Norway

Sweden

USA

2001 2003 2005 2007 2009 2011

-2

-1

0

1

2

3

4

5

6

CPI

CPI-ATE

2014

0

1

2

3

4

5

6

2000 2002 2004 2006 2008 2010 2012 2014

LFS-unemployment. 3-month mov. av.

Registered unemployment

Average past 25 years (LFS) -200

-100

0

100

200

300

400

500

600

1985 1990 1995 2000 2005 2010 2015

Oil adjusted surplus

Overall surplus of the Fiscal Budgeton the Pension Fund

10 11

Expenditure and revenue for the fiscal year 2015 (1000 NOK)

Expenditure

Totalexpenditure Operationexpenditure

Newconstruction

Transferstoothers

Lendingandbor-rowingtransactions

RoyalHouse 227610 19842 - 207768 -

Government 330971 330971 - - -Parliament 1988200 1428400 346300 213500 -SupremeCourt 92352 92352 - - -MinistryofForeignAffairs 38331251 5445592 100072 31675227 1110360MinistryofEducationandResearch 51306842 4259727 25754 47021361 -MinistryofCulture 12642009 3025316 30208 9586485 -MinistryofJusticeandPublicSecurity 33273415 29275782 1796982 2200651 -MinistryogLocalGov'tandModernisation 174369288 4680506 1591700 168097082 -MinistryofLabourandSocialAffairs 55596063 24039111 402878 11054074 20100000MinistryofHealthandCareServices 145137944 4889809 21717 140226418 -MinistryofChildren,EqualityandSocialIncl. 37361493 7806181 54755 29500557 -MinistryofTrade,IndustryandFisheries 9750910 3648637 391100 5711173 -MinistryofAgricultureandFood 17288478 1588332 9417 15690729 -MinistryofTransportandCommunications 95265893 20390815 26218540 8656538 40000000MinistryofClimateandEnvironment 8072379 2179336 433178 5459865 -MinistryofFinance 110402340 13874940 180300 34928100 61419000MinistryofDefence 43787866 31649751 11484359 653756 -MinistryofPetroleumandEnergy 15464355 1428344 7900 4778111 9250000Variousexpenditure 10458033 10458033 - - -Statebanks 118307502 723199 51094 13214095 104319114Governmentpetroleumactivities 38000000 - 38000000 - -Governmentbusinessoperations 1860298 -779862 2640160 - -NationalInsuranceScheme 418666836 - - 418666836 -GovernmentPensionFundGlobal 303955000 - - 303955000 -

Totalexpenditure 1741937328 170455114 83786414 1251497326 236198474

FiscalBudgetextheNational

InsuranceScheme

NationalInsurance

Scheme

FiscalBudgetincl.theNational

InsuranceScheme

1.Revenue(exrepaymentsandtransfersfromtheGovernmentPensionFundGlobal) 1026420644 305093700 1331514344

2.Expenditure(exlending,debtinstalments) 1087072018 418666836 1505738854Operationexpenditure 170455114 - 170455114Newconstruction 83786414 - 83786414Transferstoothers 528875490 418666836 947542326TransferstotheGovernmentPensionFund 303955000 - 303955000

3.Surplusbeforeborrowingandlendingtransactionsbeforetransfer fromtheGovermentPensionFundGlobal(1-2) -60651374 -113573136 -174224510

4.TransfersfromtheGovernmentPensionFundGlobal 174224510 - 1742245105.Surplusbeforeborrowingandlendingtransactions(3+4) 113573136 -113573136 -

12 13

Revenue

Totalrevenue

Operationrevenue

Revenuerelatedtonew

construction

Taxes,dutiesandother

transfers

Repayments

Taxesonwealthandincome 259035000 - - 259035000 -

Employer'sandemployee'ssocialsecuritycontributions 302853000 - - 302853000 -Customsrevenue 3200000 - - 3200000 -Valueaddedtax 256190000 - - 256190000 -Excisedutiesonalcohol 12600000 - - 12600000 -Excisedutiesontobacco 7200000 - - 7200000 -Excisedutiesoncars 30534000 - - 30534000 -Otherexciseduties 50347065 - - 50347065 -

Totaltaxesandduties 921959065 - - 921959065 -

Interestsfromgovernmentbusinessoperations 86288 - - 86288 -Otherrevenuefromgovernmentbusinessoperations 2040573 200 2030873 9500 -

Totalrevenuefromgovernmentbusinessoperations 2126861 200 2030873 95788 -

Interestsfromstatebanks 9245651 - - 9245651 -Interestsfromcashbalanceandother 6063188 - - 6063188 -DividendsexclusiveStatoil 16666902 - - 16666902 -

Interestsanddividends(exGovernmentbusinessoperationsandStatoil) 31975741 - - 31975741 -

Revenuefromtheministries 30497677 18444817 290965 11761895 -TransferfromNorgesBank 3000000 - - 3000000 -ReturnofassetsfromTheStateBankInsuranceFund - - - - -

Totalotherrevenue 33497677 18444817 290965 14761895 -

Revenuefromgovernmentpetroleumactivities 153400000 121000000 26700000 5700000 -Taxesanddutiesonextractionofpetroleum 173600000 - - 173600000 -DividendsfromStatoil 14955000 - - 14955000 -

Totalpetroleumrevenue 341955000 121000000 26700000 194255000 -Repayments 103243423 - - - 103243423

GovernmentPensionFundGlobal 174224510 - - 174224510 -

Totalrevenue 1608982277 139445017 29021838 1337271999 103243423

FiscalBudgetextheNational

InsuranceScheme

NationalInsurance

Scheme

FiscalBudgetincl.theNational

InsuranceScheme

Borrowingandlendingtransactions:

6.Loans,debtinstalments,subscriptionofsharesoverall 236198474 - 236198474Loanstothestatebanks 104319114 - 104319114Debtinstalments 61419000 - 61419000Otherloans,subscriptionofshares 70460360 - 70460360

7.Repayments 103243423 - 1032434238.Loans(net)(6-7) 132955051 - 132955051

9.Overallfinancingrequirements–ofcashbalanceandborrowingandlendingassets(8-5) 19381915 113573136 132955051

14 15

1 Percentagechangeiscalculatedinfixedprices.2 Nationalaccountscurrentprices.3 Excl.services.4 Currentprices.

Sources:StatisticsNorwayandMinistryofFinance.

1 Therateis23.5pct.fortaxpayersinNord-TromsandFinnmark.2 Thespecialtaxonpetroleumactivitiesis51pct.andtheeconomicrenttaxonhydropowerplantsis31pct.3 Therateis7pct.inbracket1fortaxpayersinNord-TromsandFinnmark.4 Incomefromself-employmentwithinfishingandhunting,aswellasfromchildmindinginownhome(childrenbelowtheage

of12yearsorwithspecialcareandnursingneeds),issubjecttoa8.2pct.socialsecuritycontribution.Alowersocialsecuritycontributionrateforfishingandhuntinghastodowiththefactthatthesesectorspayaproducttaxintendedto,interalia,makeupthedifferencebetweenthe8.2pct.andthe11.4pct.socialsecuritycontributionrates.

5 Inzone1a,employers’socialsecuritycontributionshallbepaidatarateof10.6pct.untilthedifferencebetweenthesocialsecuritycontributionactuallypaidbytheenterpriseandthesocialsecuritycontributiontheenterprisewouldhavepaidatarateof14.1pct.equalsthedeminimisstateaidthreshold.For2015,thethresholdisNOK500,000percompany.ForgoodsroadtransportcompaniesinzoneIa,thethresholdisNOK250,000.EEAregulationsonregionalstateaiddonotallowdifferentiatedemployers’socialsecuritycontributionsinpartsofthetransportsector,intheenergysectorandinthefinanceandinsurancesectors.Athresholdarrangementcorrespondingtotheoneinzone1ahasthereforebeenintroducedinthesesectors.

6 Fordisabilitypensionrecipients,etc.whoaresubjecttothetaxlimitationrule,themaximumeffectivemarginaltaxratemaybeupto55pct.

7 Including27pct.corporationtax.

Macroeconomic developments Percentagechangefrompreviousyear1

NOK billion2

2013 2013 2014 2015

Privateconsumption 1234.5 2.1 2.1 2.7

Publicconsumption 658.1 1.8 2.1 2.2Grossfixedcapitalformation 681.9 8.4 1.0 -0.9

Ofwhich:Oilactivities3 208.3 17.1 0.0 -8.0Mainlandbusinesssector 185.6 0.2 0.1 1.2Residentialconstruction 147.0 6.4 -2.0 3.4Publicsector 108.0 9.9 9.4 3.2

FinaldemandfromMainlandNorway 2333.1 2.5 2.0 2.5Exports 1170.8 -3.3 2.2 2.2

Ofwhich:Crudeoilandnaturalgas 570.4 -7.7 0.9 0.6Traditionalgoods 322.1 0.4 3.1 3.6

Imports 847.9 2.9 2.3 2.5

Ofwhich:Traditionalgoods 508.1 2.5 1.4 3.6

GrossDomesticProduct 3011.4 0.6 1.8 1.6Ofwhich:MainlandNorway 2314.0 2.0 2.2 2.0

Memo:Employment.persons .. 1.2 0.9 0.8Unemploymentrate(LFS.percentoflabourforce) .. 3.5 3.4 3.6Consumerpriceindex .. 2.1 2.1 2.1Consumerpriceindexadjustedfortaxchangesandexcludingenergyproducts(CPI-ATE) .. 1.6 2.4 2.1Wagegrowth .. 3.9 3.3 3¼Crudeoilprice,NOKperbarrel4 639 656 650Currentaccountsurplus,percentofGDP .. 11.1 11.6 11.7GrossNationalIncome(NOKbillion)4 .. 3060 3194 3318

Tax rates, allowances and thresholds in 2014 and in 2015

2014-rules

2015-rules

Change 2014-2015

Tax on ordinary income Individuals1 27pct. 27pct. - Enterprises2 27pct. 27pct. -SurtaxBracket 1 Threshold NOK527,400 NOK550,550 4.4pct. Rate3 9.0pct. 9.0pct. -Bracket 2 Threshold NOK857,300 NOK885,600 3.3pct. Rate 12.0pct. 12.0pct. -Employees’ social security contributionLowerthresholdforthepaymentofemployees’socialsecuritycontribution NOK39600 NOK49650 25pct.Levellingrate 25.0pct. 25.0pct. -Rate

Wageincome 8.2pct. 8.2pct. -Fishing,huntingandchildminding4 8.2pct. 8.2pct. -Incomefromotherself-employment 11.4pct. 11.4pct. -Pensionincome,etc. 5.1pct. 5.1pct. -

Employers’ social security contribution5

ZoneI 14.1pct. 14.1pct. - ZoneIa 14.1pct. 14.1pct. - ZoneII 10.6pct. 10.6pct. - ZoneIII 6.4pct. 6.4pct. - ZoneIV 5.1pct. 5.1pct. - ZoneIVa 7.9pct. 7.9pct. - ZoneV 0.0pct. 0.0pct. -Maximum effective marginal tax rates

Wageincome,excl.employees´socialsecuritycontribution

47.2pct. 47.2pct. -

Wageincome,incl.employees´socialsecuritycontribution

53.7pct. 53.7pct. -

Pensionincome6 44.1pct. 44.1pct. -Incomefromself-employment4 50.4pct. 50.4pct. -Dividendsanddistributions7 46.7pct. 46.7pct. -

Personal allowance Class1 NOK48,800 NOK50,400 3.3pct. Class2 NOK72,000 NOK74,250 3,1pct.

16 17

8 Thesumofthebasicallowanceagainstwageincomeandthebasicallowanceagainstpensionincomeshallnotexceedthemaximumbasicallowanceagainstwageincome,i.e.NOK89,050in2015.

9 Ataxpayerearningwageincomegetsthehigherofthebasicallowanceagainstwageincomeandthespecialwageincomeallowance.

10Thetaxlimitationruleisabolishedforreceiversofdisabilitybenefitsfrom2015.11Thespecialallowanceforhighexpensesduetoillnessiscontinuedin2015withsamerulesasin2014.

11Thespecialallowanceforhighexpensesduetoillnessiscontinuedin2015withsamerulesasin2014.12Thethresholdsapplytosingletaxpayers.Formarriedcoupleswhoareassessedjointlyforjointassets,thethresholds

aretwicethelevelsspecifiedinthetable.

2014-rules

2015-rules

Change 2014-2015

Basic allowance against wage income and benefits Rate 43.0pct. 43.0pct. - Lowerlimit NOK4,000 NOK4,000 - Upperlimit8 NOK84,150 NOK89,050 5.8pct.

Basic allowance against pension income Rate 27.0pct. 29.0pct. 2percentagepoints

Lowerlimit NOK4,000 NOK4,000 - Upperlimit NOK70,400 NOK72,200 2.6pct.

Special wage income allowance9 NOK31,800 NOK31,800 -

Special disability allowance, etc NOK32,000 Abolished Abolished

Special allowance for sole providers NOK48,804 NOK48,804 -

Special tax credit for pensionersMaximumamount NOK30,000 NOK30,800 2.7pct.Downscaling, level 1 Threshold NOK175,900 NOK180,800 2.8pct. Rate 15.3pct. 15.3pct. -Downscaling, level 2 Threshold NOK266,900 NOK273,650 2.5pct. Rate 6.0pct. 6.0pct. -

The tax limitation rule for disability pension beneficiaries, etc.10

Levellingrate 55.0pct. 55.0pct. -Tax-exempted net income Singleperson NOK131,400 NOK135,700 3.3pct. Marriedperson1311 NOK120,800 NOK124,800 3.3pct.Net wealth supplement Rate 1.5pct. 1.5pct. - Singleperson NOK200,000 NOK200,000 - Marriedperson NOK100,000 NOK100,000 -

Special allowance in Finnmark and Nord-Troms Class1 NOK15,000 NOK15,500 3.3pct. Class2 NOK15,000 NOK15,500 3.3pct.

Seamen’s allowance Rate 30.0pct. 30.0pct. - Upperlimit NOK80,000 NOK80,000 -

Fishermen’s allowance Rate 30.0pct. 30.0pct. - Upperlimit NOK150,000 NOK150,000 -

2014-rules

2015-rules

Change 2014-2015

Special allowance against income from self-employment in agriculture, etc.Income-independentallowance NOK63,500 NOK63,500 -

Rateapplicabletoamountsinexcessoftheincome-independentallowance 38.0pct. 38.0pct. -

Maximumoverallallowance NOK166,400 NOK166,400 -

Special allowance for high expenses due to illness11

Lowerlimit NOK9,180 NOK9,180 -

Maximum annual allowance for payments to individual pension schemes NOK15000 NOK15000 -

Allowance for travel between home and workRateperkm NOK1.50/0.70 NOK1.50/0.70 -Lowerallowancelimit NOK15,000 NOK16,000 6.7pct.

Maximum allowance for donations to charities NOK16,800 NOK20,000 19pct.

Maximum allowance for paidtrade union subscriptions, etc NOK3,850 NOK3,850 -

Home investment savings scheme for people below the age of 34 years (BSU)Taxdeductionrate 20.0pct. 20.0pct. -Maximumannualsavings NOK25,000 NOK25,000 -

Maximumtotalsavingsinthescheme NOK200,000 NOK200,000 -

Parental allowance for documented childminding and childcare expensesUpper limit Onechild NOK25,000 NOK25,000 - Supplementperadditionalchild NOK15,000 NOK15,000 -

Allowance per kilometre of work-related travel using a private vehicle Allowanceperkilometre upto10,000km NOK4.05 NOK4.10 1.2pct.

Allowanceperkilometre inexcessof10,000km NOK3.45 NOK3.45 -

Net wealth tax12

Local government Threshold NOK1,000,000 NOK1,200,000 20pct. Rate 0.7pct. 0.7pct. -Central government Threshold NOK1,000,000 NOK1,200,000 15pct. Rate 0.3pct. 0.15pct. -0.15percentagepoints

18 19

13 Depreciationrateforlorries,heavygoodsvehiclesandbusesincreasesto22pct.in2015.14 Initialdepreciationrateof10pct.foroperatingequipmentinassetgroupdwasintroducedfrom2014.15 Buildingswithadesignsosimplethattheireconomiclifemustbeassumednottoexceed20yearscanbedepreciat-

edatarateof10pct.The10pct.ratealsoappliestoinstallationswhoseeconomiclifemustbeassumednottoexceed20years.

16 Agriculturalbuildingsforlivestockcanbedepreciatedatahigherrateof6pct.

Source:MinistryofFinance.

1 Changestovalueaddedtaxratesarespecifiedinpercentagepoints.2 Groupa:Passengercars,class1vansandbusesshorterthan6metreswithupto17seats.Pistondisplacementisused

asthetaxcomponentforvehicleswhoseCO2emissionsarenotspecified.

2014-rules

2015-rules

Change 2014-2015

Valuation discounts (as percentage of market value) Primarydwelling 75pct. 75pct. -

Commercialbuildingsand secondarydwellings

40pct. 30pct. -10percentagepoints

Depreciation ratesAsset group a

(officeequipment,etc.) 30pct. 30pct. -Asset group b

(acquiredgoodwill) 20pct. 20pct. -Asset group c

(heavygoodsvehicles,lorries,buses,vans,etc.)13 20pct. 20/22pct. 0/2percentagepoints

Asset group d (passengercars,machineryandequipment,etc.)14 20(30)pct. 20(30)pct. -

Asset group e(ships,vessels,rigs,etc.) 14pct. 14pct. -

Assetgroupf(aircraft,helicopters) 12pct. 12pct. -

Asset group g(facilitiesforthetransmissionanddistributionofelectricityandelectrotechnicalequipmentinpowercompanies) 5pct. 5pct. -

Assetgrouph(buildingsandinstallations,hotels,etc.)15.16 4(6/10)pct. 4(6/10)pct. -

Asset group i (officebuildings) 2pct. 2pct. -

Asset group j (technicalfacilitiesinofficebuildingsandothercommercialbuildings) 10pct. 10pct. -

Rates of indirect tax in 2014 and 2015Tax category 2014-

rules2015-rules

Changes in pct.

Value added tax, pct.ofsalesvalue1

Generalrate 25 25 -Reducedrate 15 15 -Lowrate 8 8 -

Tax on alcoholic beveragesSpirits-basedbeveragesinexcessof0.7pct.alcoholbyvolume,NOKperpct.alcoholandperlitre 6.98 7.13 2.1

Otheralcoholicbeveragesfrom4.7to22pct.alcoholbyvolume,NOKperpct.alcoholandperlitre 4.54 4.64 2.2

Otheralcoholicbeveragesupto4.7pct.alcoholbyvolume,NOKperlitre

a)0.0–0.7pct.alcoholbyvolume - - -b)0.7–2.7pct.alcoholbyvolume 3.12 3.19 2.2c)2.7–3.7pct.alcoholbyvolume 11.74 11.99 2.1d)3.7–4.7pct.alcoholbyvolume 20.34 20.77 2.1

Tax on tobacco products

Cigars,NOKper100grams 239 244 2.1Cigarettes,NOKper100units 239 244 2.1Smokingtobacco,NOKper100grams 239 244 2.1Snuff,NOKper100grams 97 99 2,1Chewingtobacco,NOKper100grams 97 99 2.1Cigarettepaper,NOKper100units 3.65 3,73 2.2

Motor vehicle registration taxPassenger cars, etc. Tax group a2

Weight,NOKperkgfirst1,150kg 38.30 39.10 2.1next250kg 83.50 85.25 2.1next100kg 167.01 170.52 2.1remainder 194.23 198.31 2.1

Enginepower,NOKperkWfirst70kW 0 0,00 -next30kW 240.00 245.04 2.1next40kW 695.00 709.60 2.1remainder 1720.00 1756.12 2.1

NOXemissions,NOKpermg/km 46.14 47.11 2.1

CO2emissions,NOKperg/km

first105g/km 0 0 -next15g/km 779.00 795.36 2.1next40g/km 785.00 801.49 2.1next70g/km 1830.00 1868.43 2.1remainder 2938.00 2999.70 2.1

20 21

3 Groupb:Class2vans.Changespecifiedinpercentagepoints.ThehighestleveloftheCO2componentdoesnotapplyto

groupb,andthesecond-highestlevelwillremainat25pct.ofthetaxonpassengercars.4 Groupc:Campervans.Changespecifiedinpercentagepoints.NoNO

Xcomponentapplicable.

5 Grouph:Taxisandvehiclesfordisabledpersons.Changespecifiedinpercentagepoints.ThetwohighestlevelsoftheCO

2componentdonotapplytogrouph.

6 Groupj:Busesshorterthan6metreswithupto17seats,ofwhichatleast10areforward-facing.Changespecifiedinpercentagepoints.ThehighestleveloftheCO

2componentdoesnotapplytogroupj.NoNO

Xcomponentapplicable.

7 Petrolwithasulphurcontentof10ppmorlower.8 Dieselwithasulphurcontentof10ppmorlower.Thisratealsoappliestobiodieselthatdoesnotmeetthesustaina-

bilitycriteria.

Tax category 2014-rules

2015-rules

Changesin pct.

allowanceforemissionsbelow105g/km,applicabledownto50g/kmandonlytovehiclesemittinglessthan105g/km 829.00 896.41 8.1

allowanceforemissionsbelow50g/km,applicableonlytovehiclesemittinglessthan50g/km 984.00 1054.66 7.2

Vans class 2. Tax group b.3

weight,pct.ofpassengercartax 22 22 -enginepower,pct.ofpassengercartax 22 22 -NO

Xemissions,pct.ofpassengercartax 30 30 -

CO2emissions,pct.ofpassengercartax 30 30 -

Camper vans. Tax group c.4

pct.ofpassengercartax 22 22 -Weasels. Tax group e,

pct.ofvaluetaxbase 36 36 -Motorbikes. Tax group f,

taxperunit,NOK 11043 7895 -28.5Enginepowertax,NOKperkW

first11kW 0 0 -remainder 491.44 250.00 -49.1

Pistondisplacementtax,NOKpercm3

first125cm3 0 0 -next775cm3 37.93 32.14 -15.3remainder 83.17 70.48 -15.3

Snowmobiles. Tax group gWeight,NOKperkg

first100kg 15.56 13.19 -15.2next100kg 31.13 26.38 -15.3remainder 62.23 52.74 -15.2

Enginepower,NOKperkWfirst20kW 41.51 21.19 -49.0next20kW 82.99 42.37 -48.9remainder 165.96 84.72 -49.0

Pistondisplacement,NOKpercm3first200cm3 3.25 2.32 -28.6next200cm3 6.49 4.64 -28.5remainder 12.97 9.27 -28.5

Taxis. Tax group h.5

weight,pct.ofpassengercartax 40 40 -enginepower,pct.ofpassengercartax 40 40 -NO

Xemissions,pct.ofpassengercartax 100 100 -

CO2emissions,pct.ofpassengercartax 100 100 -

Vintage cars. Tax group i,taxperunit,NOK 3637 0 -100.0

Minibuses. Tax group j.6

pct.ofpassengercartax 40 40 -

Tax category 2014-rules

2015-rules

Changesin pct.

Annual motor vehicle tax, NOKperyear Petrolvehiclesanddieselvehicleswithafactory-fittedparticlefilter 2995 3060 2.2

Dieselvehicleswithoutafactory-fittedparticlefilter 3490 3565 2.1Caravans 1120 0 -100.0Motorbikes 1835 1875 2.2Tractors,mopeds,etc. 425 435 2.4

Annual weight-based tax, NOKperyear variable variable 2.1

Re-registration tax variable variable -33.6

Road usage tax on engine fuel,perlitre

Petrol7 4.87 4.87 0.0Autodiesel8 3.82 3.82 0.0Biodieselmeetingthesustainabilitycriteria 1.91 1.91 0.0

Electricity tax, NOKperkWh

Generalrate 0.1239 0.1365 10.2Reducedrate 0.0045 0.0045 -

Base tax on mineral oil, etc.Mineraloil,NOKperlitre 1.557 1.590 2.1

Mineraloilinthewood-processingindustry,productionofdyesandpigments,NOKperlitre 0.126 0.126 -

Tax on lubricating oil,NOKperlitre 1.94 1.98 2.1

CO2 tax

Petroleumactivities,NOKperlitreorSm3 0.98 1.00 2.0Mineraloil,generalrate,NOKperlitre 0.88 0.90 2.3Mineraloilsubjecttoroadusagetax,NOKperlitre 0.62 0.63 1.6

MineraloilfordomesticaviationcoveredbytheEUETS,NOKperlitre 0.56 1.05 87.5

Mineraloilforotherdomesticaviation,NOKperlitre 0.84 1.05 25.0

Mineraloilforthewood-processing,herringmealandfishmealindustries,NOKperlitre 0.31 0.31 -

Mineraloilforfishingandcatchingininshorewaters,NOKperlitre 0.26 0.27 3.8

Petrol,NOKperlitre 0.93 0.95 2.2Naturalgas,NOKperSm3 0.66 0.67 1.5LPG,NOKperkg 0.99 1.01 2.0Reducedratefornaturalgas,NOKperSm3 0.05 0.05 -

22 23

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The Norwegian Ministry of Finance is located in the Govern-ment Administration Complex, Akersgata 40, Oslo. The Ministry has 7 departments with a total of 294 employees.

AdministrativeAffairsDepartement 46AssetManagementDepartment 25BudgetDepartment 50FinancialMarketsDepartment 28TaxLawDepartment 72TaxPolicyDepartment 32EconomicPolicyDepartment 41

Theeductionalbackgroundofouremployeesisasfollows:

Wearelookingforskilledeconomists,lawyersandsocialscientists.Ourvacanciesareadvertisedcontinuallyatwww.jobbifinans.dep.no

Source:MinistryofFinance.

Tax category 2014-rules

2015-rules

Changesin pct.

Sulphur tax,NOKperlitre 0.079 0.081 2.5

Tax on NOX emissions,NOKperkg 17.33 19.19 10.7

Tax on the final disposal of waste,NOKpertonne

Taxonbiodegradablewastedepositedpursuanttoanexemptiongrantedbythepollutioncontrolauthorities 488 0 -100.0

Taxonthedepositingofotherwaste 294 0 -100.0

Tax on trichloroethene (TRI) and tetrachloroethene (PER), NOKperkg 66.65 68.05 2,1

Tax on hydrofluorocarbons (HFC) and perfluoro-carbons (PFC), NOKpertonneofCO2equivalents 330 354 7.3

Tax on chocolate and sugar products, etc., NOKperkg 18.91 19.31 2.1

Tax on non-alcoholic beverages

Finishedproducts,NOKperlitre 3.12 3.19 2.2Concentrate(syrup),NOKperlitre 19.03 19.43 2.1

Sugar tax,NOKperkg 7.32 7.47 2.0

Tax on beverage packaging,NOKperunit

Basetax,disposablepackaging 1.10 1.12 1.8Environmentaltax

a)Glassandmetals 5.34 5.45 2.1b)Plastics 3.22 3.29 2.2c)Cartonsandcardboard 1.32 1.35 2.3

Stamp duty,pct.ofsalesprice 2.5 2.5 -

Economy48%

Law29%

Socialscience7%

Otherhighereducation

8%

Lessthanthreeyearsofhigher

education4%

Nohighereducation

4%

182 631 1 022 835 974 105 437 705 290 539 2

44 789 245 167 170 900 123 800 192 538 1196

78,9 553

4 069 146 629 6 609 415 866 264 717 220389 -11 797 -118 088 -153 780 8 370 118 153 780 +3 427 2341 84 144

1 532,3 1 593,8 1 743,0 1 945,7 2 159,6 2 277,1 2 548,3 101,0 1 155,1 1 256,3 1 455,0 1 626,6 1 697,8 1 946,4 307,7 319,0 37,7 494,6 578,9 553,0 718,5 281,0 251,4 361,3 465,3

Budget 2015

Keywebsites:

MinistryofFinance:http://www.regjeringen.no/fin

FiscalBudget:http://www.statsbudsjettet.no

TheTaxAdministration:http://www.skatteetaten.no

TheCustomsandExciseAuthorities:http://www.toll.no

EconomyforYouth:http://www.ungokonomi.no

Published by Ministry of FinanceMailingaddress:P.O.Box8008Dep,0030OsloVisitingaddress:Akersgt.40Telephone:22249090Internet:http://www.regjeringen.no/finE-mail:postmottak@fin.dep.no

Public institutions may order additional copies from:NorwegianGovernmentSecurityandServiceOrganisationInternet:www.publikasjoner.dep.noE-mail:publikasjonsbestilling@dss.dep.noTelephone:22242000

Publicationnumber:R-0643EISBN:978-82-91092-98-0

Print:DSS02/15-300