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It's because Norway is one of the most heavily taxed countries in the world with a total tax burden of roughly 45% of GDP– almost 4x Hong Kong and nearly twice
by NizaAfrica 8y ago
It's because Norway is one of the most heavily taxed countries in the world with a total tax burden of roughly 45% of GDP– almost 4x Hong Kong and nearly twice the US.
VAT here is a whopping 25%. Personal income tax rates border 55%. Corporate profits tax ranges from 28% to as high as 78%
Moreover revenues from Equinor also help.
- marvin 8y agoInteresting to see the measure of total tax burden vs. GDP. Never heard that variant before, during discussions where it becomes obvious it's difficult to compare the tax systems of different countries. Apparently, perhaps not surprisingly, the Nordic countries top this list: https://en.wikipedia.org/wiki/List_of_countries_by_tax_revenue_to_GDP_ratio https://en.wikipedia.org/wiki/List_of_countries_by_tax_reven...