Revised National Budget

Postponed implementation of resource rent tax on onshore wind power

The Government wants a larger share of the value which is created from the country’s common natural resources to benefit local communities, municipalities and society as a whole. The Government notified its intention to propose a resource rent tax on onshore wind power, as part of the National Budget for 2023.

There was a consultation period on the Government’s proposal for resource rent tax on onshore wind power from 16th December 2022 to 15th March 2023. The consultation paper proposed that resource rent tax on onshore wind power would take effect from 2023. The paper also stated that the date was subject to consideration, among other things on the basis of consultation responses. Several of the submitted responses expressed that the resource rent tax should not take effect for the income year 2023.

“Local communities and society as a whole should receive a fair share of the value created from our common natural resources. We must nevertheless closely consider consultation responses and legal basis before presenting a Bill to the Parliament“, says Minister of Finance Trygve Slagsvold Vedum (Centre Party).

In light of, among other things, responses to the consultation, the Government aims to put forward a Parliamentary Bill for resource rent tax on onshore wind power during the Autumn session in 2023, to take effect for the income year 2024.

In the National Budget for 2023, the Parliament approved an increase in the production tax on onshore wind power from NOK 0.01 to 0.02 per kWh, from 1 January 2023. The increase in this tax rate is not affected by postponing the introduction of resource rent tax, meaning municipal authorities will receive the planned increased income.