{"id":1675140,"date":"2022-10-06T03:05:12","date_gmt":"2022-10-06T07:05:12","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1675140"},"modified":"2022-10-06T03:05:41","modified_gmt":"2022-10-06T07:05:41","slug":"norway-hikes-tax-on-oil-and-gas-industry-for-2023","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/norway-hikes-tax-on-oil-and-gas-industry-for-2023\/","title":{"rendered":"Norway hikes tax on oil and gas industry for 2023"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">20<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fnorway-hikes-tax-on-oil-and-gas-industry-for-2023%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1675140&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>OSLO (Reuters) \u2013     Norway\u2019s centre-left government said on Thursday it planned to raise taxes on the country\u2019s oil and gas industry by 2 billion Norwegian crowns ($191 million) in 2023 by partly reversing an incentive package introduced during the coronavirus pandemic.<\/p>\n<p>The adjustment to the temporary rules follows a surge in oil and gas prices, the government said. <\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\">\n<\/div>\n<p>\u201cWhen aggregated over the years in which the temporary rules will apply, central government revenues are estimated to increase by 11 billion crowns,\u201d Finance Minister Trygve Slagsvold Vedum said in a statement.<\/p>\n<p>Norway, Europe\u2019s number one gas supplier and a major global crude producer, pumps around 4 million barrels of oil equivalent per day, ensuring big financial gains from the spike in energy prices.<\/p>\n<p>The proposal reduces the so-called uplift rate, a special tax deduction, to 12.4% from 17.69%, the finance ministry said.<\/p>\n<p>\u201cWith the government\u2019s proposal, all profitable investments before special tax will also remain profitable after tax,\u201d said Vedum, who leads the rural-oriented Centre Party.<\/p>\n<p>The left-leaning minority government of Labour and Centre said it plans to cut spending in 2023 by the $1.2 trillion sovereign wealth fund, the world\u2019s largest, while raising taxes to help combat rampant inflation.<\/p>\n<p>The government proposed withdrawing 316.8 billion crowns from the wealth fund next year, down from a revised 335.1 billion crowns in 2022, and must now negotiate with the Socialist Left Party to pass the budget.<\/p>\n<p>Gross domestic product for the non-oil economy is expected to grow by 2.9% this year, declining to 1.7% in 2023 before rebounding to 2.0% in 2024, the ministry said.<\/p>\n<p>($1 = 10.4670 Norwegian crowns)<\/p>\n<p> (Reporting by Terje Solsvik, editing by Gwladys Fouche and Jason Neely)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/norway-hikes-tax-on\/attachment\/offshore-oil-and-gas-platform-supply-vessels-are-docked-at\/\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/10\/tagreuters.com2022binary_LYNXMPEI95087-BASEIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI95087-BASEIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>OSLO (Reuters) \u2013 Norway\u2019s centre-left government said on Thursday it planned to raise taxes on the country\u2019s oil and gas industry by 2 billion Norwegian crowns ($191 million) in 2023<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1675140","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1675140","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1675140"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1675140\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1675140"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1675140"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1675140"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}