Norway is a part of Scandinavia and shares a long border with Sweden in the east and it is also bordered by Finland and Russia to the north-east. The rugged coastline, broken by huge fjords and thousands of islands are a significant part of the landscape. A very high standard of living, a highly educated population and a strongly integrated welfare system are key parts of Norway.
The Norwegian economy is a classic example of a mixed economy. This nation has extensive reserves of petroleum, minerals, natural gas, hydropower, lumber, seafood, and fresh water. As a major oil and gas exporter, Norway is one of the wealthiest country in the world and has one of the lowest income tax rate in the world, in spite of the high level of social services.
CXC Global’s local expertise and knowledge of Norway, allows us to work closely with our clients, assist with Local Tax and Social Security Registration, VAT Registration, including a preparation of a personal income tax return at the end of the tax year.
Contracting in Norway is not a simple task. The taxation system in Norway is not contractor friendly. Norway is recognised for being a country with some of the highest living standards and taxes in the world. They has entered into Double Taxation Treaties with many countries and do not encourage contracting.
For foreign national contract workers, contracting in Norway, it would be wise to consult with CXC Global on the best way to structure, and how best to balance taxation.