Published under: Stoltenberg's 2nd Government
Publisher Ministry of Finance
The Asset Management Departmentis responsible for the Ministry’s work on the Government Pension Fund. The work on strengthening the management of the funds is central to the Ministry of Finance and the department's responsibilities include investment strategy for the funds, evaluation of the operational management by Norges Bank and the National Insurance Scheme Fund, and development and implementation of ethical guidelines for the Government Pension Fund Global.
Department director: Director General Espen Erlandsen
The Budget Department is responsible for coordinating the work on the budget. The Government's role in preparing the budget is based on the principle of lump-sum allocations and the individual ministers have considerable autonomy in how they spend their allotted share of the budget.
Department director: Director General Pål Longva
The work of the Ministry of Finance includes a number of responsibilities toward the financial markets. The Financial Markets Department attends to many of the responsibilities of the Ministry of Finance toward the financial markets including regulating according to provisions made in the central legislation, holding the responsibilities as tax authority and management of public ownership in financial institutions.
Department director: Director General Geir Åvitsland
Tax Law Department is responsible for the drafting, interpretation and administration of regulations relating to income and wealth tax, petroleum tax, national insurance contributions, property tax, inheritance tax, value-added tax, customs duty and various special taxes. It is also responsible for the negotiation of Double Tax Treaties and acts as the superior Norwegian Competent Authority under these treaties and for coordinating consideration of international tax issues within the Ministry
Department director: Director General Omar G. Dajani
The Tax Policy Department analyses how tax legislation and amendments affect saving, consumption, investments and labour supply and how tax revenues change when regulations are amended. This department is also responsible for preparing the annual tax proposals outlined in the budget.
Department director: Director General Nina Bjerkedal
The Economic Policy Department monitors and analyses economic trends in Norway and abroad, and gives advice in a number of areas of economic policy. The Economic Policy Department is responsible for raising and servicing government loans at home and abroad and has the overall responsibility for Norway's cash reserves and short-term claims, which are largely deposits in Norges Bank (Norway's central bank). In addition to this, the department coordinates the work on the national budget and has a special responsibility for issues of methodology with regard to economic planning, thus it maintains close links with academic and research communities.
Department director: Director General Amund Holmsen
The Department of Administrative Affairs (Administrasjonsavdelingen) is a staff unit for the leadership of the Ministry. The overall aim of the Department is to contribute to ensuring that the Ministry's resources are utilised effectively and in line with the Ministry's goals and strategies. Departmental tasks include personnel administration, secretary services, computer systems operation and development, archive services, internal accounting and the procurement and maintenance of office fittings and equipment.
The Communication Unit handles press inquiries to the Ministry and it's political leadership. The Unit is a part of the Secretary General's staff.
Department director: Head of Communications Therese Riiser Wålen