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Ground rent tax for wind power
Sigbjørn Sørensen - Lawyer & partner13. December 2023 < 1 min read

Agreement on ground rent tax for wind power in the Parliament

After hearing, the Norwegian government settled  a new proposal for ground rent tax. As a result of the consensus in the Parliament, further changes are now being made. 

Changes in the draft law after the consensus in the Parliament

  • The effective tax rate is set to 25%.
  • For new power plants, a payment scheme for negative ground rent income is introduced when they are put into operation, and the Tax Administration has conducted a review of the determined tax. In the meantime, negative ground rent income is carried forward with interest. The introduction requires the approval of this scheme by the EEA.
  • For existing power plants, the entry value receives a 40% markup compared to the government`s original proposal. However, the entry value cannot be higher than 85% of the historical cost of investments. The entry value is written off linearly against the ground rent tax over 5 years.
  • The settlement does not entail changes in the production levy.

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Sigbjørn Sørensen - Lawyer & partner

Sigbjørn has tax law as his special area. He has extensive experience with both national and international tax law for companies and individuals. Sigbjørn also works with company law and assists with reorganizations and transactions. Sigbjørn has worked as a business lawyer since 2010, including at Deloitte, KPMG and BDO. He has also worked in the Taxpayers' Association and regularly gives courses and seminars. Sigbjørn started at Magnus Legal in 2022 and is the office manager for the Oslo office.