Norway

Individual - Sample personal income tax calculation

Last reviewed - 06 February 2020

Typical tax computation for 2019 for an individual

Tax computation Standard (NOK)
Salary 900,000
Company car 94,990
Personal income 994,990
   
Capital gains (e.g. dividends, sale of shares) 5,000
Interest on bank deposit 2,500
44% adjustment of income from shares 2,200
Minimum deduction (104,450)
Interest expenses on mortgage and loss (40,000)
Travelling costs to and from work (less NOK 23,100) (4,000)
Ordinary income (net income) 856,240
   
Personal deduction (51,300)
   
Bracket tax (1.90% of personal income in excess of NOK 180,800, 4.20% in excess of NOK 254,500, 13.20% in excess of NOK 639,750, and 16.20% in excess of NOK 999,550) 64,472
Social security (8.2% of personal income) 81,589
Income tax (22% of ordinary income less personal deduction) 177,087
Total tax and social security (includes tax on dividends, sale of shares, interests) 323,148
   
Net cash income after taxes (does not include dividends, sale of shares, interests) 576,852
   
Employer’s contribution to social security (14.1%) 140,294