The Norwegian government has issued a release on a revised proposal for the introduction of a resource rent tax on onshore wind power from 2024 with an effective tax rate of 35%. The tax was originally proposed as part of the budget for 2023 with a rate of 40%. The key features of the revised proposal are summarized in the release as follows:
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Key features of the Government's proposal
Structure of the resource rent tax:
- The tax is structured as a cash flow tax, with an immediate ded…