High taxation in Norway

[AtW]

"The shareholder model (aksjonærmodellen) implies that dividends exceeding a risk-free return on the investment (the cost base of the shares) are taxed as "ordinary income" when distributed to personal shareholders. When added to the 28% company taxation, this gives a total maximum marginal tax rate on dividends of 48.16% (0.28+0.72*0.28).[12] The 2014 corporate tax rate is 27% giving a marginal tax rate on dividends of 46.71%.[13]"

Turns out to be less than UK now

Oh wait, maybe they tax employers more?


Employers' social security contribution

"Employers in both private and public sector is obliged to pay the employer's social security contribution on labour costs. The employers’ social security contribution are regionally differentiated, so that the tax rate depends on where the business is located. In 2010, the rates vary from 0% to 14.1%.[8]

When the employers' social security contribution is included, the maximum marginal tax rate on labour costs is 54,3%.[8]"

Again less than UK

Source: https://en.wikipedia.org/wiki/Taxation_in_Norway

[SueEllen]

They invested their income from oil.

[AtW]

They invested their income from oil.

Yes, they did and that money are not used to provide lower taxes, like say in Saudi Arabia

[AtW]

Found their budget info -

Expenses

Operating costs: 109,355
Investments: 40,334
Transfers: 927,708
Lending and instalment: 2
Total costs: 1,202,683

Income

Operating income: 132,970
from investments: 16,179
Taxes and transfers: 928,248
Paybacks: 59,682
Total income:1,137,079

Source: https://en.wikipedia.org/wiki/State_budget_of_Norway

So they get 12-15% of budget income from investments, but they are also investing more than they gain from those investments.

[PurpleGorilla]

They invested their income from oil.

And boomer tossers pissed ours up the wall.

[tomtomagain]

I've worked in Oslo a few times. It's a very orderly, well run city. The Norwegians I worked with were pleasant and well educated and clearly enjoyed a good standard of living

..... however they spend most of their time complaining about how much everything costs and how much tax they pay.

It is eye-wateringly expensive.

Stuff you would expect to pay a fiver for in the UK, you are looking at 2 - 3 times the cost in Norway.

[FatLazyContractor]

It is eye-wateringly expensive.

Not for MF shirley .....

[cojak]

Yes, they did and that money are not used to provide lower taxes, like say in Saudi Arabia

No, as you pointed out, they didn't p1$$ it up a wall.

[BlasterBates]

And boomer tossers invested it in BTL empires

FTFY

Thanks to the Baby boomer generation there is now plenty of rented accomodation so the younger generation can focus more on their playstations.

Have a nice day.

[stek]

High taxation in Norway

I'm in Iceland at the moment and the taxation here is the same as the Netto next door.