# Norway plans resource tax on onshore wind farms
Published: 2023-10-06
Category: News
Category URL: https://internationalreleases.com/category/news/
Meta Title: Norway to Implement Resource Tax on Onshore Wind Power in...
Meta Description: Norway to introduce resource rent tax on onshore wind power from 2024 to ensure value added in the industry benefits society. 35% tax rate with focus on muni...
URL: https://internationalreleases.com/norway-plans-resource-tax-on-onshore-wind-farms/

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OSLO (Reuters) – Norway will introduce a resource rent tax on onshore wind power from 2024, although existing facilities will get “generous transitional arrangements”, the government said on Friday.

“The proposal will ensure that a larger share of the value added in the wind power industry will accrue to society as a whole. Host municipalities will be better off under the proposal,” the government said in a statement.

The government is proposing an effective tax rate of 35%, structured as a cash flow tax with an immediate deduction of investment costs.

“At least half of the revenues will accrue to municipalities. This is achieved through the production tax, supplemented by an additional appropriation in years of high resource rent,” it added.

(Reporting by Terje Solsvik, editing by Gwladys Fouche)


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