Norway
Individual - Sample personal income tax calculation
Last reviewed - 13 August 2024
Typical tax computation for 2024 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 |
| Upward adjustment of income from shares by 1.72 |
8,600 |
| Interest on bank deposit |
2,500 |
| Minimum deduction |
(104,450) |
| Interest expenses on mortgage and loss |
(40,000) |
| Ordinary income (net income) |
861,640 |
| |
|
| Personal deduction |
(88,250) |
| |
|
| Bracket tax on personal income: |
62,439 |
| 1.7% between NOK 208,051 and NOK 292,850 |
| 4.0% between NOK 292,851 and NOK 670,000 |
| 13.6% between NOK 670,001 and NOK 937,900 |
| 16.6% between NOK 937,901 and NOK 1,350,000 |
| 17.6% for income exceeding NOK 1,350,000 |
| Social security (7.8% of personal income) |
77,609 |
| Income tax (22% of ordinary income less personal deduction) |
170,146 |
| Total tax and social security (includes tax on dividends, sale of shares, interests) |
310,194 |
| |
|
| Net cash income after taxes (does not include dividends, sale of shares, interests) |
678,438 |
| |
|
| Employer’s contribution to social security (14.1%) |
140,294 |
| Including 5% additional employer`s contributions of income exceeding NOK 850,000 (19.1%) |
27,693 |
| Total employer's contribution: |
167,987 |
