Subordinate agencies

In order to implement its political decisions, the Ministry of Finance is supported by a number of subordinate agencies and bodies, and their administration is largely the responsibility of the various departments within the Ministry. The Administrative Affairs Department is responsible for co-ordinating the operation of the Ministry and its subordinate agencies and for drawing up their budgets.
  • National Insurance Scheme Fund
    (Statens pensjonsfond Norge)

    The National Insurance Scheme Fund was established in 1966 when the National Insurance Act was adopted. The Fund is separate from the National Insurance Scheme, and the capital managed by the Fund is not earmarked for any specific purpose.

  • The Financial Supervisory Authority (Finanstilsynet)

    The Financial Supervisory Authority of Norway supervises banks, insurance companies and other financial institutions to ensure that they comply with the legislation pertaining to financial markets. The Authority assesses, for example, management and control arrangements established by an enterprise and reviews company accounts and documents. When the Ministry of Finance considers a matter involving the financial market, the Authority is usually consulted before a decision is taken.

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  • The Tax Administration (Skatteetaten)

    The Tax Administration ensures that taxes are set and collected in the correct manner and are responsible for updating the national population register. It issues tax cards, collect advance tax and check the tax-return forms that are required to be submitted each year. The Tax Administration also determines and monitors national insurance contributions, and value-added tax and are responsible for providing professional guidance and instruction to local tax collection offices that collect direct taxes.

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