Norway Tax Tables 2024 - Tax Rates and Thresholds in Norway

This page contains the tax table information used for the calculation of tax and payroll deductions in Norway in 2024. These tax tables are used for the tax and payroll calculators published on iCalculator™ NO, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Norway or would like to add to or suggest amendments to the information herein then please contact us.

Norway Personal Income Tax Tables in 2024

The Income tax rates and personal allowances in Norway are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Norway Tax Calculator 2024.

In Norway, social security contributions made by employees are not deductible for the purpose of calculating taxable income. This means that the contributions to the National Insurance Scheme (Folketrygden) are made from post-tax income. While these contributions are not deductible, they fund essential social security benefits, including pensions, healthcare, and unemployment insurance, providing a comprehensive safety net for residents.

Norway Social Security and Payroll Deduction Rates in 2024

In Norway, the social security system is designed to provide comprehensive coverage and benefits to all residents, ensuring support through various stages of life and in different circumstances. Both employees and employers contribute to this system, funding a wide range of benefits including pensions, healthcare, unemployment insurance, and more. This system is central to Norway’s social welfare model, reflecting the country’s commitment to social equity and security.

The primary component of social security contributions in Norway is directed towards the National Insurance Scheme (Folketrygden). This scheme covers a broad spectrum of benefits, from pensions and sickness benefits to maternity/paternity leave and disability support. Contributions to the National Insurance Scheme ensure that individuals have financial support during retirement, illness, and other life events that might affect their ability to earn an income.

Pension contributions fund both the basic state pension and the supplementary pension, providing income in retirement and ensuring that individuals can maintain a reasonable standard of living once they stop working. This two-tiered system aims to reward long-term contributions while guaranteeing a safety net for all retirees.

Healthcare contributions finance the public healthcare system, granting access to a wide range of medical services at little to no cost for residents. This includes hospital care, general practitioner services, and subsidised prescriptions, ensuring comprehensive health coverage for the population.

Unemployment insurance is another critical aspect of Norway’s social security system, providing financial assistance to individuals who are temporarily out of work. This benefit helps maintain a level of income security for the unemployed while they seek new employment opportunities, contributing to overall economic stability.

Parental leave benefits, funded through social security contributions, offer generous maternity and paternity leave terms. This supports parents financially during the crucial early months of a child’s life, promoting work-life balance and enabling both parents to participate in childcare.

Work injury insurance is provided as part of the social security system, offering compensation and coverage for treatment in the event of work-related injuries or illnesses. This ensures that workers are protected against the financial implications of accidents and health issues caused by their employment.

In addition to these key elements, the Norwegian social security system includes benefits for child support, disability assistance, and coverage for care services for the elderly and those with special needs. Each of these components is designed to provide a safety net, ensuring that residents have access to essential services and support throughout their lives.

Both employers and employees contribute to the financing of these benefits, with rates set by the government. Employers’ contributions are calculated as a percentage of payroll, while employees’ contributions are deducted directly from their salaries. The collaborative funding model underpins the universal coverage and comprehensive benefits that characterise the Norwegian social security system.

In summary, social security and payroll deductions in Norway represent a shared investment in the wellbeing of the workforce and the broader community. By providing for pensions, healthcare, unemployment insurance, and other benefits, these contributions ensure a high level of social security and welfare for all residents, underpinning the country’s social model.

Norway VAT Rates in 2024

VAT rates for Norway are reviewed annually, you can use the VAT Calculator to calculate VAT due in Norway or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.

Historic Tax Tables supported for Norway

The following tax tables are supported by iCalculator™ NO as part of the suite of free tax tools we provide for Norway.