OrbitaxOrbitax

Norway Publishes Law for Additional Depreciation for 2020

|Approved Changes|Norway
Norway

Norway has published Law No. LOV-2020-06-23-103 in the Official Gazette, which includes the measure for additional depreciation included as part of the Revised National Budget for 2020, which is largely meant to support businesses impacted by the COVID-19 pandemic. The measure provides for an additional 10% depreciation (from 20% to 30%) for group D assets (machinery, personal vehicles, movable furnishings, etc.) in the 2020 fiscal year. The increased depreciation applies for group D assets …

Continue reading with a Pro Subscription

Unlock full Orbitax Tax News content, including a historical database of tax news, alerts, and analysis from our network of tax experts, all tailored to your company footprint. Now includes Orbitax XatBot AI Tax Assistant.

Free trial available. Cancel anytime. Free Orbitax account required.

Already a Pro or Pro+ subscriber? Sign in to Orbitax to continue reading.