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Petroleum Tax Regulations. The taxation of petroleum resources on the Norwegian continental shelf is governed by a special law concerning petroleum taxation (the Petroleum Taxation Act). The Act applies to extraction and pipeline activities on the Norwegian continental shelf.
Petroleum Tax Office is responsible for the taxation of Norwegian and international companies involved in oil and gas exploration. Account for petroleum tax. Tax returns and tax assessments for petroleum companies. You must submit the tax return electronically by 30 April. You'll find forms, guidelines and standard letters here.
Upstream petroleum companies in Norway are subject to both ordinary petroleum tax at the rate of 27% and an additional special tax of 51%. It should be noted that these taxes are calculated independently of each other.
The Norwegian petroleum tax system is fairly robust when it comes to make sure that all income generated from E&P activities on the Norwegian Continental Shelf becomes taxable to Norway, and also that only related costs are deductible.
1 wrz 2021 · Today, upstream petroleum activities on the Norwegian continental shelf are taxed with a marginal tax rate of 78%. The tax is levied on two tax bases; a corporate tax base with a tax rate of 22% and a special tax base with a tax rate of 56%.
5 mar 2018 · Scope of the Act. This Act governs the taxation of exploration for and extraction of subsea petroleum deposits, and activities and work relating thereto, hereunder pipeline transportation of extracted petroleum. a) in internal Norwegian waters, in Norwegian territorial seas and on the continental shelf;
