Norway plans 5 percent payroll tax on financial industry -budget document

Sparebanken Ost

06/10/2016 07:58

OSLO, Oct 6 (Reuters) - Norway's rightwing government plans 
to impose a five-percent payroll tax on the banking industry in 
2017, it said in a budget document seen by Reuters on Thursday. 
    The country's general tax rate on corporate profits will be 
lowered to 24 percent from 25 percent, in line with a plan 
outlined previously, but the banking industry must continue to 
pay the old tax rate, the proposal to parliament showed. 
    Unlike other industries, banks are exempt from charging 
value-added taxes and the new fiscal measures are aimed at 
compensating for this discrepancy. 
 
 (Reporting by Oslo newsroom) 
 
Keywords: NORWAY BUDGET/TAX BANKS