News Share

The Tax Hub

Daily Tax Newsletter


27 June 2013

Responsive image

Government announces tax plans for 2014 – details

On 5 May 2013, the government published a press release (No. 18/2013) which outlines the tax plans for 2014. The measures were also mentioned on the revised Budget for 2013, presented on 7 May 2013. The most important plans are:

-   reduction of the corporate income tax rate to 27% (currently 28%);
-   increase of the petroleum tax to 51% (currently 50%);
-   increase of the special tax on economic rent stemming from hydropower plants to 31% (currently 30%);
-   reduction of the uplift used to calculate the tax base for the petroleum tax to 5.5% (currently 7.5%);
-   increasing the funding reserved for the R&D tax credit scheme Skattefunn by NOK 100 million;
-   introduction of a special first year additional depreciation allowance of 10% for machinery, cars and equipment. Consequently, these assets can be written off by 30% instead of 20% in the year of purchase;
-   introducing a limitation for the deductibility of interest paid to loans between related parties; and
-   increase of the taxable value of non-owner occupied houses and business property for net wealth tax purposes to 60% (currently 50%) of the market value.

Powerful Tax Tools


FX Rates

Global FX Rates including Tax Year Average FX Rates and Spot Rates for all Reporting Currencies.


Corporate Tax Rates

Corporate tax rates, surtaxes, and effective tax rates for the current year, as well as historical rates and approved future rates.


Country Analysis

Detailed tax guidance for companies doing business in over 100 countries, including summaries and snapshots of key tax facts and issues.


Cross Border Tax Calculator

Calculate total tax costs and benefits of a cross border transaction including withholding tax, participation exemption and foreign tax credit rules.


Cross Border Tax Rates

Provides Domestic, treaty and EU cross border tax rates for over 5,000 country combinations for 9 different payment streams.



Complete overview of the OECD BEPS Project, including daily BEPS news, country adoption of BEPS measures, and an overview of the 15 BEPS Actions.


Tax Calendar

Customizable calendar tool that tracks corporate income tax, value added tax and transfer pricing obligations by country or entity.


Tax Forms

English translations of key tax forms for over 80 countries, including tax return forms, treaty benefit forms, withholding tax forms, and more.


Worldwide Tax Treaties

Repository including thousands of tax treaties (in English), OECD, UN and US Models, relevant EU Directives, Technical Explanations, and more.


Worldwide Tax Planner

Calculates the worldwide tax cost of what-if scenarios based on legal entity structure, taxable income, and cross border transactions.


Certified Rates Report

Customizable Certified Rates Report providing updated corporate and withholding tax rates at the end of each month for over 100 countries.


Withholding Tax Minimizer

Enables quick calculation of tax costs and benefits of cross border transactions considering all possible transaction combinations and optimal routes.


VAT Rates

Provides value added tax (VAT) rates, goods and services tax (GST) rates and other indirect tax rates for over 100 countries.


NOL Calculator

Country specific calculator to determine how net operating losses can be utilized in carryback and carryforward years.


Transfer Pricing Calculator

Calculates TP ratios under various TP methods and calculates the difference between target ratios and actual ratios.


Individual Income Tax Rates

Individual tax rates for over 100 countries.

Play of the Day

FX Rates

Global FX Rates including Tax year Average FX Rates and Spot Rates for all Reporting Currencies.

We’re here to help

We’re here to answer any questions you have about the Orbitax products and services.

Send us a message

Who’s behind Orbitax?

We’re committed to providing high value, low cost tax research and management solutions.

Learn More