Postponed implementation of resource rent tax on onshore wind power
The Norwegian Government today, ahead of presenting the revised budget for 2023, announced postponed implementation of resource rent tax on onshore wind power.
The proposal for a resource rent tax was sent for consultation on 16th December 2022, with the deadline set for 15th March 2023. The initial plan was to implement the tax from 2023, but the effective date is now under review, partly due to feedback received during the consultation period.
Taking into consideration the feedback from the consultation period, the government now aims to present the proposal for the resource rent tax on onshore wind power to Parliament in the fall session of 2023, with the intention of implementing it from the income year 2024. Unfortunately, this does signal that the proposal has not been put away and there is also no clear indication of concrete changes to the proposal. The postponement does however entail that the Government has more time to consider what adjustments should be made, as well as to negotiate and seek a broader political base for the Parliamentary Bill put forward, which they have also been seeking in relation to the proposal for resource rent tax in the aquaculture sector,
The increase in the production tax for wind power to 2 øre per kWh from 1st January 2023 was approved in the 2023 budget. This increase is unaffected by the delay in implementing the resource rent tax.
The SVW tax and renewable resources teams are following the process closely and please contact us if you have any questions in relation to the proposal.
Read more about the proposal here.