Norway

Individual - Sample personal income tax calculation

Last reviewed - 08 December 2021

Typical tax computation for 2022 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
60% adjustment of income from shares 3,000
Minimum deduction (109,950)
Interest expenses on mortgage and loss (40,000)
Travelling costs to and from work (less NOK 14,000) (4,000)
Ordinary income (net income) 851,540
   
Personal deduction (58,250)
   
Bracket tax (1.70% of personal income in excess of NOK 190,350, 4.00% in excess of NOK 267,900, 13.40% in excess of NOK 643,800, 17.40% in excess of NOK 969,200, and 17.2% in excess of NOK 2 million) 64,188
Social security (8.0% of personal income) 79,599
Income tax (22% of ordinary income less personal deduction) 174,524
Total tax and social security (includes tax on dividends, sale of shares, interests)

318,310

   
Net cash income after taxes (does not include dividends, sale of shares, interests) 581,690
   
Employer’s contribution to social security (14.1%) 140,294