1

Budget 2013

•Keyfiguresforthe Norwegianeconomy•Mainfiguresofthe FiscalBudget•Directandindirect taxrates

2

3

Main figures of the Fiscal Budget and thePension Fund Global excluding borrowing and lending transactions for 2012 and 2013 (NOK million)

Estimatedaccounts

2012

Adoptedbudget

2013

Total revenue of the Fiscal Budget 1276789 1314841Revenuefrompetroleumactivities 410492 401187Revenueexcludingpetroleumrevenue 866297 913654

Total expenditure of the Fiscal Budget 996849 1065320Expenditureonpetroleumactivities 26002 28002Expenditureexcludingpetroleumexpenditure 970847 1037318

=FiscalBudgetsurplusbeforetransferstothePensionFundGlobal 279939 249522

- Netcashflowfrompetroleumactivities 384490 373185

= Petroleumadjustedsurplus -104550 -123663+ TransferredfromthePensionFundGlobal 104550 123663

= FiscalBudgetsurplus 0 0+ NetallocatedtothePensionFundGlobal 279939 249522+ Fundrevenuefrominterestanddividends 108800 130600

=TotalsurplusoftheFiscalBudgetandthePensionFund 388739 380122

The borrowing and lending transactions, and financing requirements, of the Fiscal Budget for 2012 and 2013 (NOK million)

Estimatedaccounts

2012

Adoptedbudget

2013

Lending,subscriptionforshares,etc. 118082 143113- Repayment 157292 84935- FiscalBudgetsurplus 0 0

= Netfinancingrequirements -39210 58178+ Debtinstalments 0 66544= GrossfinancingrequirementsoftheFiscalBudget -39210 124722

4

Market value of the Government Pension Fund GlobalNOKbillion.Endoftheyear

Expected real return on the Government Pension Fund Globaland structural, non-oil Fiscal Budget deficitBillion2013-kroner

Source:MinistryofFinance.

Source:MinistryofFinance.

0

500

1000

1500

2000

2500

3000

3500

4000

4500

1995 1998 2001 2004 2007 2010 2013

Markedsverdien av Statens pensjonsfond utland1. Mrd. kroner ved utgangen av året

1Statens petroleumsfond før 2006.

Kilde: Nasjonalbudsjettet 2013, Finansdepartementet . Forventet realavkastning av Statens pensjonsfond utland og strukturelt, oljekorrigert underskudd. Mrd. 2013-kroner

Kilde: Nasjonalbudsjettet 2013, Finansdepartementet .

0

25

50

75

100

125

150

175

2001 2003 2005 2007 2009 2011 2013

Strukturelt, oljekorrigert underskudd

4 prosent realavkastning

Structuraldeficit

4pct.realreturn

5

Elderly (67 years and above) to working age population (20-66 years)Percent

Government net petroleum revenues, structural non-oil budget deficit and expected real return on Government Pension Fund GlobalPercentofMainlandNorwayGDP

Source:MinistryofFinance.

Source:MinistryofFinance.

Kilder: Nasjonalbudsjettet 2013, Finansdepartementet.

Petroleumsinntekter og fondsavkastning

-5

0

5

10

15

20

25

1970 1985 2000 2015 2030 2045 2060

Statens netto kontantstrøm

Strukturelt underskudd

Forventet fondsavkastning

Antall eldre (67 år og over) i forhold til antall personer i yrkesaktiv alder (20–66 år). Prosent

0

10

20

30

40

50

60

1970 1985 2000 2015 2030 2045 2060

Norge

EU-landene

Euroområdet

Kilder: Nasjonalbudsjettet 2013, Finansdepartementet

Kilder: Nasjonalbudsjettet 2013, Finansdepartementet.

Petroleumsinntekter og fondsavkastning

-5

0

5

10

15

20

25

1970 1985 2000 2015 2030 2045 2060

Statens netto kontantstrøm

Strukturelt underskudd

Forventet fondsavkastning

Antall eldre (67 år og over) i forhold til antall personer i yrkesaktiv alder (20–66 år). Prosent

0

10

20

30

40

50

60

1970 1985 2000 2015 2030 2045 2060

Norge

EU-landene

Euroområdet

Kilder: Nasjonalbudsjettet 2013, Finansdepartementet

Norway

EU-countries

Euro-area

CentralgovernmentNetcashflow

Structuralnon-oilBudgetdeficit

ExpectedreturnontheFund

6

1)EffectsofanoilpriceincreaseofNOK10perbarrel.2)Incometaxandspecialtaxonpetroleumincome.AreafeeandtaxonCO

2emissionsetc.

3)Taxesandexciseduties,netrevenuesfromSDFI(TheState’sdirectfinancialinterest)anddividendsfromStatoil.

Sources:StatisticsNorway,MinistryofPetroleumandEnergy,MinistryofFinanceandReutersEcowin.

1Applicableonlytosingleparentsreceivingtransitionalbenefit.2 Before1August2012thefullcashbenefitwas3303NOKpermonthforchildrenaged13-35months.

Source:MinistryofFinance.

Ifthechildisnotinkindergarden,itisgivenfullcashbenefit.Ifthechildhaspartialdaycareinkindergardenat19hoursorlessperweek,thecashbenefitis50percentofthefullrate.

Key figures for the petroleum sector

2011 2012 2013 2014

Oil price sensitivity 20131

Assumptions:Crudeoilprice,NOKperbarrel 621 646 625 446- Crude oil and NLG 118 116 114 112-Naturalgas 100 107 110 112

NOKbillion:Paidtaxes2 210 228 230 166 2.6NetrevenuesfromSDFI 128 143 129 90 1.9Netcashflow3 351 384 373 269 4.5

Child benefit and cash benefit for 2012 and 2013

2012-rules 2013-rulesChange

2012-2013

Annualchildbenefitrate NOK11640 NOK11640 -

Singleparentrate(children0-3yearsold)1

NOK7920 NOK7920 -

ExtrachildbenefitallowanceinFinnmark,NorthTromsandSvalbard NOK3840 NOK3840 -

Monthlyfullratecashbenefitforchildrenaged13-18months NOK50002 NOK5000 -

Monthlyfullratecashbenefitforchildrenaged19-23months NOK3303 NOK3303 -

7

* Inadditon,thereare0.9billionNOKtoNorfundprimarycapitalthatcountasofficialdevelopmentaid

Fiscal Budget revenue and expenditure 2013, excluding borrowing and lendingtransactions(NOK billion)

Fiscal Budget revenue (excl. petroleum) 913.7SumdirectandindirecttaxesfromMainlandNorway 855.9Taxesonwealthandincome 252.5Employer’sandemployee’ssocialsecuritycontributions 265.2Valueaddedtax 236.0Excisedutiesontobaccoandalcohol 20.1Excisedutiesoncars,petrol,etc. 50.8Excisedutiesonelectricity 7.1Customsrevenue 2.8Otherindirecttaxes 21.5Revenuefromgovernmentbusinessoperations 1.9Interestanddividends 30.9Otherrevenue 25.0

Fiscal Budget expenditure (excl. petroleum) 1037.3Retirementpension 162.2Sicknessallowance 37.7Othersocialsecuritypayouts(socialcauses) 114.0Disabilityandmedicalrehabilitation 25.4Maternity,paternityandadoptionpay 18.1

Unemploymentbenefitandpaymentsrelatingtooccupationalrehabilitation 12.1

Regionalhealthenterprises(hospitals) 112.0Generalgrantstolocalgouvernments 143.5Highereducationandtertiaryvocationaleducation 28.7Defence 42.2

Transportation(includingoperationandmaintenanceofclassifiedroads) 38.4

Foreignaid(ODAapproved)* 29.3Childbenefits 15.0AgriculturalAgreement 14.2Policeandpublicprosecution 13.6Interestongovernmentdebt 12.8Otherexpenditure 218.3

Petroleumadjustedsurplus -123.7Governmentnetcashflowfrompetroleumactivities 373.2

8

GDP for Mainland-Norway and employment. Change from previous yearPercent

UnemploymentPercentoflabourforce

Sources:StatisticsNorwayandMinistryofFinance.

Sources:OECD,StatisticsNorwayandMinistryofFinance

BNP for Fastlands-Norge og sysselsatte personer. Prosentvis endring fra året før

Kilder: Statistisk sentralbyrå og Finansdepartementet.

Kilder: Statistisk sentralbyrå og Finansdepartementet.

-4

-2

0

2

4

6

8

10

2000 2002 2004 2006 2008 2010

BNP for Fastlands-Norge Sysselsatte personer

2013

Arbeidsledighet Prosent av arbeidsstyrken

Kilder: OECD, Statistisk sentralbyrå og Finansdepartementet.

0

2

4

6

8

10

12

14

1980 1985 1990 1995 2000 2005

Euroområdet

OECD-landene

Norge

2011

GDPforMainland-Norway Employment

Euro-area

OECD-countries

Norway

9

Consumer pricesChangefrompreviousyear.Percent

Non-Oil Fiscal Budget surplus and Surplus of the Fiscal Budget and the Government Pension FundNOKbillion

Source:StatisticsNorway

Sources:StatisticsNorwayandMinistryofFinance

Konsumpriser Prosentvis endring fra samme måned året før

Kilde: Statistisk sentralbyrå.

-2

0

2

4

6

8

2000 2002 2004 2006 2008

KPI (totalt)

KPI-JAE (justert for avgiftsendringer og utenom energivarer)

2010 2012

-200

-100

0

100

200

300

400

500

600

1985 1990 1995 2000 2005

Oljekorrigert overskudd

Samlet overskudd på statsbudsjettet og Statens pensjonsfond

Oljekorrigert overskudd og samlet overskudd i statsbudsjettet og Statens pensjonsfond utland Prosent av BNP for Fastlands-Norge

Kilder: Nasjonalbudsjettet 2013, Finansdepartementet.

2013

Oil-adjustedsurplus

TotalsurplusoftheFiscalBudgetandthePensionFund

CPI(total)

CPI-ATE(adjustedfortaxchangesandexcludingenergyproducts)

10

Expenditure and revenue for the fiscal year 2013 (1000 NOK)

Expenditure

Totalexpenditure

Operationexpenditure

Newconstruction

Transferstoothers

Lendingandbor-rowingtransactions

RoyalHouse 194207 18381 - 175826 -

Government 310950 310950 - - -Parliament 1684550 1346250 166300 172000 -SupremeCourt 85084 85084 - - -MinistryofForeignAffairs 35966972 4879308 222992 29966812 897860MinistryofEducationandResearch 43584593 3275316 24528 40284749 -MinistryofCulture 9714561 1674435 34812 8005314 -MinistryofJusticeandPublicSecurity 29822577 25868504 1276992 2677081 -MinistryofLocalGov’tandRegionalDev. 158810927 409055 700 158401172 -MinistryofLabour 54964002 21789871 982960 11191171 21000000MinistryofHealthandCareServices 121334499 4396393 18417 116918189 1500MinistryofChildren,EqualityandSocialIncl. 32904363 6898795 10500 25995068 -MinistryofTradeandIndustry 6277489 1882439 10700 4384350 -MinistryofFisheriesandCoastalAffairs 5003027 3342897 765160 894970 -MinistryofAgricultureandFood 17100191 1584498 9773 15505920 -MinistryofTransportandCommunications 38900000 15199700 16648900 7051400 -MinistryoftheEnvironment 5440678 2804090 635226 2001362 -MinistryofGovernmentAdm.,ReformandChurchAffairs 6296636 4332972 634461 1329203 -MinistryofFinance 108875500 9120800 217700 32993000 66544000MinistryofDefence 42224299 30840715 10777729 605855 -MinistryofPetroleumandEnergy 16972471 2540621 10000 4421850 10000000Variousexpenditure 14821000 14821000 - - -Statebanks 124512452 655064 226227 12417518 111213643Governmentpetroleumactivities 28001800 1800 28000000 - -Governmentbusinessoperations 1837911 -22390 1860301 - -NationalInsuranceScheme 369335808 - - 369335808 -

GovernmentPensionFundGlobal 373185200 - - 373185200 -

Totalexpenditure 1648161747 158056548 62534378 1217913818 209657003

FiscalBudgetextheNational

InsuranceScheme

NationalInsuranceScheme

FiscalBudgetincl.theNational

InsuranceScheme

1.Revenue(exrepaymentsandtransferfromtheGovernmentPensionFundGlobal) 1047504762 267336655 1314841417

2.Expenditure(ex.lending,debtinstalments) 1069168936 369335808 1438504744Operationexpenditure 158056548 - 158056548NewConstruction 62534378 - 62534378Transferstoothers 475392810 369335808 844728618TransferstotheGovernmentPensionFundGlobal 373185200 - 3731852003.Surplusbeforeborrowingandlendingtransactionsbeforetransfer fromtheGovernmentPensionFundGlobal(1-2) -21664174 -101999153 -1236633274.TransferfromtheGovernmentPensionFundGlobal 123663327 - 1236633275.Surplusbeforeborrowingandlendingtransactions(3+4) 101999153 -101999153 -

11

Expenditure and revenue for the fiscal year 2013 (1000 NOK)

Expenditure

Totalexpenditure

Operationexpenditure

Newconstruction

Transferstoothers

Lendingandbor-rowingtransactions

RoyalHouse 194207 18381 - 175826 -

Government 310950 310950 - - -Parliament 1684550 1346250 166300 172000 -SupremeCourt 85084 85084 - - -MinistryofForeignAffairs 35966972 4879308 222992 29966812 897860MinistryofEducationandResearch 43584593 3275316 24528 40284749 -MinistryofCulture 9714561 1674435 34812 8005314 -MinistryofJusticeandPublicSecurity 29822577 25868504 1276992 2677081 -MinistryofLocalGov’tandRegionalDev. 158810927 409055 700 158401172 -MinistryofLabour 54964002 21789871 982960 11191171 21000000MinistryofHealthandCareServices 121334499 4396393 18417 116918189 1500MinistryofChildren,EqualityandSocialIncl. 32904363 6898795 10500 25995068 -MinistryofTradeandIndustry 6277489 1882439 10700 4384350 -MinistryofFisheriesandCoastalAffairs 5003027 3342897 765160 894970 -MinistryofAgricultureandFood 17100191 1584498 9773 15505920 -MinistryofTransportandCommunications 38900000 15199700 16648900 7051400 -MinistryoftheEnvironment 5440678 2804090 635226 2001362 -MinistryofGovernmentAdm.,ReformandChurchAffairs 6296636 4332972 634461 1329203 -MinistryofFinance 108875500 9120800 217700 32993000 66544000MinistryofDefence 42224299 30840715 10777729 605855 -MinistryofPetroleumandEnergy 16972471 2540621 10000 4421850 10000000Variousexpenditure 14821000 14821000 - - -Statebanks 124512452 655064 226227 12417518 111213643Governmentpetroleumactivities 28001800 1800 28000000 - -Governmentbusinessoperations 1837911 -22390 1860301 - -NationalInsuranceScheme 369335808 - - 369335808 -

GovernmentPensionFundGlobal 373185200 - - 373185200 -

Totalexpenditure 1648161747 158056548 62534378 1217913818 209657003

FiscalBudgetextheNational

InsuranceScheme

NationalInsuranceScheme

FiscalBudgetincl.theNational

InsuranceScheme

1.Revenue(exrepaymentsandtransferfromtheGovernmentPensionFundGlobal) 1047504762 267336655 1314841417

2.Expenditure(ex.lending,debtinstalments) 1069168936 369335808 1438504744Operationexpenditure 158056548 - 158056548NewConstruction 62534378 - 62534378Transferstoothers 475392810 369335808 844728618TransferstotheGovernmentPensionFundGlobal 373185200 - 3731852003.Surplusbeforeborrowingandlendingtransactionsbeforetransfer fromtheGovernmentPensionFundGlobal(1-2) -21664174 -101999153 -1236633274.TransferfromtheGovernmentPensionFundGlobal 123663327 - 1236633275.Surplusbeforeborrowingandlendingtransactions(3+4) 101999153 -101999153 -

12

Revenue

Totalrevenue

Operationrevenue

Revenuerelatedtonewconstruction

Taxes,dutiesandothertransfers

Repayments

Taxesonwealthandincome 252485000 - - 252485000 -

Employer’sandemployee’ssocialsecuritycontributions 265200000 - - 265200000 -Customsrevenue 2760000 - - 2760000 -Valueaddedtax 236000000 - - 236000000 -Excisedutiesonalcohol 12450000 - - 12450000 -Excisedutiesontobacco 7650000 - - 7650000 -Excisedutiesoncars 33630000 - - 33630000 -Otherexciseduties 45731214 - - 45731214 -Totaltaxesandduties 855906214 - - 855906214 -Interestsfromgovernmentbusinessoperations 105864 - - 105864 -Otherrevenuefromgovernmentbusinessoperations 1781834 500 1770034 11300 -Totalrevenuefromgovernmentbusinessoperations 1887698 500 1770034 117164 -Interestsfromstatebanks 8413534 - - 8413534 -Interestsfromcashbalanceandother 7651134 - - 7651134 -DividendsexclusiveStatoil 14837555 - - 14837555 -Interestsanddividends(exGovernmentbusinessoperationsandStatoil) 30902223 - - 30902223 -Revenuefromtheministries 24958282 17177752 286294 7494236 -TransferfromNorgesBank - - - - -ReturnofassetsfromTheStateBankInsuranceFund - - - - -Totalotherrevenue 24958282 17177752 286294 7494236 -Revenuefromgovernmentpetroleumactivities 157400000 129000000 22000000 6400000 -Taxesanddutiesonextractionofpetroleum 229900000 - - 229900000 -DividendfromStatoil 13887000 - - 13887000 -Totalpetroleumrevenue 401187000 129000000 22000000 250187000 -Repayments 84934994 - - - 84934994GovernmentPensionFundGlobal 123663327 - - 123663327 -

Totalrevenue 1523439738 146178252 24056328 1268270164 84934994

FiscalBudgetextheNational

InsuranceScheme

NationalInsuranceScheme

FiscalBudgetincl.theNational

InsuranceScheme

Borrowingandlendingtransactions:

6.Loans,debtinstalments,subscriptionofsharesoverall 209657003 - 209657003Loanstothestatebanks 111213643 - 111213643Debtinstalments 66544000 - 66544000Otherloans,subscriptionofshares 31899360 - 318993607.Repayments 84934994 - 849349948.Loans(net)(6-7) 124722009 - 1247220099.Overallfinancingrequirements-ofcashbalanceandborrowingandlendingassets(8-5) 22722856 101999153 124722009

13

Revenue

Totalrevenue

Operationrevenue

Revenuerelatedtonewconstruction

Taxes,dutiesandothertransfers

Repayments

Taxesonwealthandincome 252485000 - - 252485000 -

Employer’sandemployee’ssocialsecuritycontributions 265200000 - - 265200000 -Customsrevenue 2760000 - - 2760000 -Valueaddedtax 236000000 - - 236000000 -Excisedutiesonalcohol 12450000 - - 12450000 -Excisedutiesontobacco 7650000 - - 7650000 -Excisedutiesoncars 33630000 - - 33630000 -Otherexciseduties 45731214 - - 45731214 -Totaltaxesandduties 855906214 - - 855906214 -Interestsfromgovernmentbusinessoperations 105864 - - 105864 -Otherrevenuefromgovernmentbusinessoperations 1781834 500 1770034 11300 -Totalrevenuefromgovernmentbusinessoperations 1887698 500 1770034 117164 -Interestsfromstatebanks 8413534 - - 8413534 -Interestsfromcashbalanceandother 7651134 - - 7651134 -DividendsexclusiveStatoil 14837555 - - 14837555 -Interestsanddividends(exGovernmentbusinessoperationsandStatoil) 30902223 - - 30902223 -Revenuefromtheministries 24958282 17177752 286294 7494236 -TransferfromNorgesBank - - - - -ReturnofassetsfromTheStateBankInsuranceFund - - - - -Totalotherrevenue 24958282 17177752 286294 7494236 -Revenuefromgovernmentpetroleumactivities 157400000 129000000 22000000 6400000 -Taxesanddutiesonextractionofpetroleum 229900000 - - 229900000 -DividendfromStatoil 13887000 - - 13887000 -Totalpetroleumrevenue 401187000 129000000 22000000 250187000 -Repayments 84934994 - - - 84934994GovernmentPensionFundGlobal 123663327 - - 123663327 -

Totalrevenue 1523439738 146178252 24056328 1268270164 84934994

FiscalBudgetextheNational

InsuranceScheme

NationalInsuranceScheme

FiscalBudgetincl.theNational

InsuranceScheme

Borrowingandlendingtransactions:

6.Loans,debtinstalments,subscriptionofsharesoverall 209657003 - 209657003Loanstothestatebanks 111213643 - 111213643Debtinstalments 66544000 - 66544000Otherloans,subscriptionofshares 31899360 - 318993607.Repayments 84934994 - 849349948.Loans(net)(6-7) 124722009 - 1247220099.Overallfinancingrequirements-ofcashbalanceandborrowingandlendingassets(8-5) 22722856 101999153 124722009

14

1 Percentagechangeiscalculatedinfixedprices.2 Nationalaccountscurrentprices.3 Excl.services.4 Currentprices.

Sources:StatisticsNorwayandMinistryofFinance.

Macroeconomic developmentsPercentage change from previous year1)

NOK billion2)

2011 2011 2012 2013

Private consumption 1131.7 2.5 3.7 4.0Publicconsumption 590.8 1.8 1.9 2.1Gross fixed capital formation 536.8 7.6 7.7 5.8

Ofwhich:Oilactivities3) 145.5 14.1 15.0 7,0Mainlandbusinesssector 170.6 3.5 4.9 5.1Residentialconstruction 125.3 21.9 9.0 8.0Publicsector 86.8 2.2 0.5 2.8

FinaldemandfromMainlandNorway 2105.2 3.3 3.5 3.8Exports 1140.9 -1.8 1.6 1.4

Ofwhich:Crudeoilandnaturalgas 562.4 -6.2 1.0 -0.1Traditionalgoods 316.4 0.0 1.3 2.2

Imports 776.1 3.8 4.2 5.4Ofwhich:Traditionalgoods 470.1 3.6 4.4 5.6

GrossDomesticProduct 2750.0 1.2 3.1 2.5Ofwhich:MainlandNorway 2089.7 2.5 3.7 2.9Memo:Employment .. 1.3 2.1 1.3Unemploymentrate(LFS.percentoflabourforce) .. 3.3 3.1 3.2Consumerpriceindex .. 1.2 0.8 1.9Consumerpriceindexadjustedfortaxchangesandexcludingenergyproducts(CPI-ATE) .. 0.9 1.3 1.7Wagegrowth .. 4,2 4.14Crudeoilprice(NOKperbarrel)4) 621 637 625Currentaccountsurplus,percentofGDP .. 13.6 13.3 11.4GrossNationalIncome(NOKbillion)4) .. 2788 2904 3036

15

1 FortaxpayersinNord-TromsandFinnmark,therateis24.5percent.2 FortaxpayersinNord-TromsandFinnmark,therateis7percentinbracket1.3 Theself-employedinfishing,huntingandinchild-careinownhome(childrenunder12orwithspecialneedsforcareandnursing)

havea7.8percentsocialsecuritycontributiononself-employedincome.Alowersocialsecuritycontributionrateforfishingandhuntingrelatestothefactthatthesesectorspayaproducttaxi.a.intendedtomakeupforthedifferencebetweenthe7.8percentandthe11percentsocialsecuritycontribution.

4 InzoneIa,employers’socialsecuritycontributionshallbepaidatarateof10.6percentuntilthedifferencebetweenwhattheenterpriseactuallypaysandwhattheenterprisewouldhavepaidatarateof14.1percentequalsthedeminimisstateaidthreshold.In2013,thethresholdisNOK530,000perenterprise.ForroadtransportcompaniesinzoneIa,thethresholdisNOK265,000.

5 Forthedisabledetc.thataresubjecttothetaxlimitationrule,themaximumeffectivemarginaltaxratemayreach55percent.6 Includinga28percentcorporationtaxrate.7 Taxpayerswhosupporttheirspousearetaxedinclass2.

Direct taxes, rates and thresholds for 2012 and 2013

2012 2013 Change 2012-2013

Tax rate on “ordinary income” Individuals1 28pct. 28pct. -Corporations 28pct. 28pct. -SurtaxBracket 1Threshold NOK490000 NOK509600 4pct.Rate2 9.0pct. 9.0pct. -Bracket 2Threshold NOK796400 NOK828300 4pct.Rate 12.0pct. 12.0pct. -Social security contribution

Thresholdforthepaymentofsocialsecuritycontribution NOK39600 NOK39600

-

Levellingrate 25.0pct. 25.0pct. -Rate Wageincome 7.8pct. 7.8pct. -

Incomefromself-employmentinfisheriesandchildcare3

7.8pct. 7.8pct. -

Incomefromotherself-employment 11.0pct. 11.0pct. -Pensionincome,etc. 4.7pct. 4.7pct. -Employers’ social security contributionZoneI 14.1pct. 14.1pct. -ZoneIa4 14.1pct. 14.1pct. -ZoneII 10.6pct. 10.6pct. -ZoneIII 6.4pct. 6.4pct. -ZoneIV 5.1pct. 5.1pct. -ZoneIVa 7.9pct. 7.9pct. -ZoneV 0.0pct. 0.0pct. -Maximum effective marginal tax rates

Wageincomeexcl.employers’socialsecuritycontribution

47.8pct. 47.8pct. -

Wageincomeincl.employers’socialsecuritycontribution

54.3pct. 54.3pct. -

Pensionincome5 44.7pct. 44.7pct. -Self-employmentincome3 51.0pct. 51.0pct. -Dividendsandwithdrawals6 48.2pct. 48.2pct. -Standard allowanceClass1 NOK45350 NOK47150 4pct.Class27 NOK90700 NOK94300 4pct.

16

8 Thesumofthebasicallowanceinwageincomeandofthebasicallowanceinpensionincomeislimitedupwardstothemaximumbasicallowanceinwageincome,i.e.NOK81,300in2013.

9 Taxpayerswhoonlyhavewageincomeshallhavethehighestofthebasicallowanceinwageincomeandthespecialwageincomeallowance.

10Replacesclass2forsingleparents.11Thetaxlimitationruleappliesalsotosingleparents,butonlyiftheyreceiveinterimsupport.12Marrieddisabledpersonsthatreceiveaspousesupplement,haveatax-freenetincomethatisequivalenttotwicethe

tax-freenetincomeofothermarriedpersons,i.e.NOK233,400in2013.

2012 2013 Change 2012-2013

Basic allowance in wage incomeRate 38.0pct. 40.0pct. 2pct.pointsLowerlimit NOK4000 NOK4000 -Upperlimit8 NOK78150 NOK81300 4pct.

Basic allowance in pension incomeRate 26.0pct. 26.0pct. -Lowerlimit NOK4000 NOK4000 -Upperlimit NOK65450 NOK68050 4pct.

Special wage income allowance9 NOK31800 NOK31800 -

Special allowance for disability, etc. NOK32000 NOK32000 -

Special allowance for single parent10 - NOK47160 New

Tax credit for pension incomeMaximumtaxcredit NOK29300 NOK30300 3.5pct.Downscaling, bracket 1Threshold NOK165000 NOK170750 3.5pct.Rate 15.3pct. 15.3pct. -Downscaling, bracket 2Threshold NOK251700 NOK259800 3.2pct.Rate 6.0pct. 6.0pct. -

The tax limitation rule for the disabled, etc.11

Levellingrate 55.0pct. 55.0pct. -Tax-free net incomeSingle NOK122100 NOK127000 4pct.Marriedperson12 NOK112200 NOK116700 4pct.Net wealth supplementRate 1.5pct. 1.5pct. -Thresholdforsingle NOK200000 NOK200000 -Thresholdformarriedperson NOK100000 NOK100000 -

Special allowance for taxpayers in Finnmark and Nord-TromsClass1 NOK15000 NOK15000 -Class2 NOK30000 NOK30000 -

Seamen’s allowance Rate 30.0pct. 30.0pct. -Upperlimit NOK80000 NOK80000 -

Fishermen’s allowanceRate 30.0pct. 30.0pct. -Upperlimit NOK150000 NOK150000 -

17

13Thethresholdvaluesareforsingletaxpayers.Formarriedcouplesthatareassessedtogetherforassets,thethresholdvaluesaredoubleofthoseshowninthetable.

2012 2013 Change 2012-2013

Special allowance for self-employed in agriculture, etc.Income-independentallowance NOK63500 NOK63500 -Allowancerateaboveincome-independentallowance 38.0pct. 38.0pct. -Maximumtotalallowance NOK166400 NOK166400 -

Special allowance for high expenses related to illnessLowerlimit NOK9180 NOK9180 -

Maximum annual allowance for premiums paid to individual pension schemes NOK15000

Allowance for travel expenses between domicile and workRateperkm NOK1.50/0.70NOK1.50/0.70 -Lowerlimit NOK13950 NOK13950 -

Maximum allowance for donations to voluntary organisations NOK12000 NOK12000 -

Maximum allowance for labour union fees etc. NOK3750 NOK3850 2.7pct.

Home savings scheme for people under 34 (BSU)Taxdeductionrate 20.0pct. 20.0pct. -Maximumannualsavings NOK20000 NOK20000 -Maximumtotalsavings NOK150000 NOK150000 -

Parental allowance for documented expenses on childcareUpper limitOnechild NOK25000 NOK25000 -Supplementperadditionalchild NOK15000 NOK15000 -

Tax-free per kilometre allowance for business driving with private carPerkilometrerateupto10000km NOK3.90 NOK4.05 3.8pct.Perkilometrerateover10000km NOK3.25 NOK3.40 4.6pct.

Tax on net wealth13

Local governmentThreshold NOK750000 NOK870000 16pct.Rate 0.7pct. 0.7pct. -Central governmentThreshold NOK750000 NOK870000 16pct.Rate 0.4pct. 0.4pct. -

18

14 Thediscountappliestonon-listedsharesandsharesingeneralpartnershipsandlimitedpartnerships.ThediscountislimitedtoaninheritancetaxbasisforthesekindsofsharesofuptoNOK10millionsperbeneficiary.

15 Simplystructuredbuildingswithanexpectedlifetimeoflessthan20yearscanbedepreciatedattherateof10percent.Therateof10percentisalsoapplicableforfacilitieswithanexpectedlifetimeoflessthan20years.

16 Arateof6percentappliestoanimalbuildingsinagriculture.

Source:MinistryofFinance.

2012 2013 Change 2012-2013

Tax on net wealth13

ThresholdLevel 1 NOK470000 NOK470000 -Level 2 NOK800000 NOK800000 -RatesChildrenandparentsLevel 1 6pct. 6pct. -Level 2 10pct. 10pct. -OtherbeneficiariesLevel 1 8pct. 8pct. -Level 2 15pct. 15pct. -Discountonshares14 40pct. 40pct. -

Depreciation ratesAsset group a

(officeequipment,etc.) 30pct. 30pct. -Asset group b

(acquiredgoodwill) 20pct. 20pct. -Asset group c

(lorries,buses,vans,etc.) 20pct. 20pct. -Asset group d

(passengercars,machineryandequipment,etc.) 20pct. 20pct. -

Asset group e (ships,vessels,rigs,etc.) 14pct. 14pct. -

Assetgroupf(aircraft,helicopters) 12pct. 12pct. -

Asset group g (systemsfortransferanddistributionofelectricityandelectrotechnicalequipment) 5pct. 5pct. -

Assetgrouph(buildingsandfacilities,hotels,etc.)15,16 4(6/10)pct. 4(6/10)pct. -

Asset group i (businessbuildingsetc.) 2pct. 2pct. -

Asset group j (technicalinstallationsinbusinessandothercommercialbuildings) 10pct. 10pct. -

Exemption card

Apersonwithincomesbelowtheexemptioncardlimitisexemptfrompay-ingtaxes.Theexemptioncardlimitfor2013is39950NOK.Theexemptioncardlimitisbasedonthelowerlimitforthepaymentofsocialsecuritycon-tributions,whichin2013is39600NOK.Sincetaxisnotcollectedifthetotaltaxpayableisbelow100NOK,thelowerlimitforpayingtaxis39950NOK.

19

1 Thechangeinvalue-addedtaxisexpressedinpercentagepoints.2 Groupa:Passengercars,class1vansandbusesshorterthan6metreswithupto17seats.Pistondisplacementisused

asthetaxcomponentforvehicleswhoseCO2emissionsarenotstated.

Indirect tax rates in 2012 and 2013Taxcategory 2012

rules2013 rules

Change in pct.

Value added tax, percentofsalesvalue1

Generalrate 25 25 -Reducedrate 15 15 -Lowrate 8 8 -

Tax on alcoholic beveragesSpirits-basedbeveragesinexcessof0.7pct.alcoholbyvolume,NOKperpct.alcoholandperlitre 6.72 6.85 1.9Otheralcoholicbeveragesfrom4.7to22pct.alcoholbyvolume,NOKperpct.alcoholandperlitre 4.38 4.46 1.8Otheralcoholicbeveragesuptoandincluding4.7pct.alcoholbyvolume,NOKperlitre

a)0.0–0.7alcoholbyvolume - - -b)0.7–2.7alcoholbyvolume 3.00 3.06 2.0c)2.7–3.7alcoholbyvolume 11.31 11.52 1.9d)3.7–4.7alcoholbyvolume 19.59 19.96 1.9

Tax on tobacco productsCigars,NOKper100grams 231 235 1.7Cigarettes,NOKper100units 231 235 1.7Smokingtobacco,NOKper100grams 231 235 1.7Snuff,NOKper100grams 93 95 2.2Chewingtobacco,NOKper100grams 93 95 2.2Cigarettepaper,NOKper100units 3.51 3.58 2.0

Motor vehicle registration taxPassenger cars, etc. Tax group a2

Weight,NOKperkgfirst1,150kg 36.89 37.59 1.9next250kg 80.41 81.94 1.9next100kg 160.84 163.90 1.9remainder 187.06 190.61 1.9

Enginepower,NOKperkWfirst65kW 0.00 0,00 -next25kW 315.00 275.00 -12.7next40kW 895.00 790.00 -11.7remainder 2,220.00 1,960.00 -11.7

NOXemissions,NOKpermg/km 22.00 35.00 59.1

CO2emissions,NOKperg/km

first110g/km 0.00 0.00 -next15g/km(20g/kmin2012) 750.00 764.00 1.9next40g/km 756.00 770.00 1.9next70g/km 1,763.00 1,796.00 1.9remainder 2,829.00 2,883.00 1.9

20

3 Groupb:Class2vans.Thechangeisexpressedinpercentagepoints.ThehighestleveloftheCO2componentdoesnotapply

togroupb.4 Groupc:Campervans.Thechangeisexpressedinpercentagepoints.TheNO

Xcomponentisnotadded.

5 Grouph:Taxisandtransportfordisabledpersons.Thechangeisexpressedinpercentagepoints.6 Groupj:Busesshorterthan6metreswithupto17seats,ofwhichatleast10areforward-facing.Thechangeisexpressedin

percentagepoints.ThehighestleveloftheCO2componentdoesnotapplytogroupj.TheNO

Xcomponentisnotadded.

Taxcategory 2012 rules

2013 rules

Change in pct.

deductionforemissionsunder110g/km,validdownto50g/kmandonlyforvehiclesemittinglessthan110g/km 750.00 814.00 8.5deductionforemissionsunder50g/km,validonlyforvehiclesemittingunder50g/km 850.00 966.00 13.6Vans class 2. Tax group b,3

weight,percentofprivatecartax 22 22 -enginepower,percentofprivatecartax 22 22 -NO

Xemissions,percentofprivatecartax 25 25 -

CO2emissions,percentofprivatecartax 25 25 -

Camper vans. Tax group c,4

percentofprivatecartax 22 22 -Weasels. Tax group e,

percentofbasisforvaluetax 36 36 -Motorbikes. Tax group f,

taxperunit,NOK 10,635 10,837 1.9Enginepowertax,NOKperkW

first11kW 0.00 0.00 -remainder 473.29 482.28 1.9

Pistondisplacementtax,NOKpercm3

first125cm3 0.00 0.00 -next775cm3 36.53 37.22 1.9remainder 80.10 81.62 1.9

Snow scooters. Tax group gWeight,NOKperkg

first100kg 14.99 15.27 1.9next100kg 29.98 30.55 1.9remainder 59.93 61.07 1.9

Enginepower,NOKperkWfirst20kW 39.98 40.74 1.9next20kW 79.92 81.44 1.9remainder 159.83 162.87 1.9

Pistondisplacement,NOKpercm3first200cm3 3.13 3.19 1.9next200cm3 6.25 6.37 1.9remainder 12.49 12.73 1.9

Taxis. Tax group h,5

weight,percentofprivatecartax 40 40 -enginepower,percentofprivatecartax 40 40 -NO

Xemissions,percentofprivatecartax 100 100 -

CO2emissions,percentofprivatecartax 100 100 -

Veteran cars. Tax group i,taxperunit,NOK 3,502 3,569 1.9

Minibuses. Tax group j,6

percentofprivatecartax 40 40 -

21

7 Petrolwithasulphurcontentof10ppmorlower.8 Petrolwithasulphurcontentbetween10ppmand50ppm.9 Dieselwithasulphurcontentof10ppmorlower.10 Dieselwithasulphurcontentbetween10ppmand50ppm.

Taxcategory 2012 rules

2013 rules

Change in pct.

Annual tax on motor vehicles, NOKperyearPetrolvehiclesanddieselvehicleswithafactory-fittedparticlefilter 2,885 2,940 1.9Dieselcarswithoutafactory-fittedparticlefilter 3,360 3,425 1.9Caravans 1,080 1,100 1.9Motorbikes 1,765 1,800 2.0Tractors,mopeds,etc. 405 415 2.5

Annual weight-based tax, NOKperyear variable variable 1.9

Re-registration tax variable variable -15.6

Marine engine tax, NOKperhp 155.50 158.50 1.9

Road usage tax on petrol,NOKperlitreSulphur-free7 4.69 4.78 1.9Low-sulphur8 4.73 4.82 1.9

Road usage tax on auto diesel,NOKperlitreSulphur-free9 3.68 3.75 1.9Low-sulphur10 3.73 3.80 1.9Biodiesel 1.84 1.87 1.9

Electricity consumption tax,øreperkWhGeneralrate 11.39 11.61 1.9Reducedrate 0.45 0.45 -

Base tax on mineral oil, etc.Mineraloil,NOKperlitre 0.999 1.018 1.9Mineraloilinthewoodprocessingindustry,productionofcolourantsandpigments,NOKperlitre 0.126 0.126 -

Tax on lubricating oil,NOKperlitre 1.86 1.90 2.2

CO2-tax

Petroleumactivities,NOKperlitreorSm3 0.49 0.96 95.9Mineraloil,NOKperlitre 0.60 0.61 1.7Mineraloil,highrate,NOKperlitre 0.70 0.71 1.4Mineraloilfordomesticaviationsubjecttoemissionsquotas,NOKperlitre 0.42 0.43 2.4Mineraloilforthewoodprocessing,herringmealandfishmealindustry,NOKperlitre 0.31 0.31 -Mineraloilforfishingandhuntingincoastalwaters,NOKperlitre 0.00 0.13 -Petrol,NOKperlitre 0.89 0.91 2.2Naturalgas,NOKperSm3 0.45 0.46 2.2LPG,NOKperkg 0.67 0.68 1.5Reducedratefornaturalgas,NOKperSm3 0.05 0.05 -

22

Source:MinistryofFinance.

Taxcategory 2012 rules

2013 rules

Change in pct.

Sulphur tax,NOKperlitre 0.077 0.078 1.3

Tax on NOX emissions,NOKperkg 16.69 17.01 1.9

Tax on the final disposal of waste,NOKpertonneTaxonbio-degradablewastethatisdepositedinaccordancewithanexemptiongrantedbythepollutioncontrolauthorities 470 479 1.9Taxondepositsofotherwaste 284 289 1.8

Tax on trichloroethene andtetrachloroethene, NOKperkg 64.19 65.41 1.9

Tax on hydrofluorocarbons and perfluorocarbons,NOKpertonneofCO

2equivalents 225.00 229.00 1.8

Tax on chocolate and sugar products, etc.,NOKperkg 18.21 18.56 1.9

Tax on non-alcoholic beveragesFinishedproducts,NOKperlitre 2.85 3.06 7.4Concentrate(syrup),NOKperlitre 17.40 18.68 7.4

Sugar tax,NOKperkg 7.05 7.18 1.8

Tax on beverage packaging,NOKperunitBasetaxondisposablepackaging 1.06 1.08 1.9Environmentaltax

a)Glassandmetal 5.14 5.24 1.9b)Plastic 3.10 3.16 1.9c)Cartonsandcardboard 1.28 1.30 1.6

Stamp duty,percentofsaleprice 2.5 2.5 -

23

Pho

to:JiriH

avran

Economy46%

Law30%

Socialscience7%

Otherhighereducation

8%

Lessthanthreeyearsofhighereducation

4%

Nohighereducation

5%

The Norwegian Ministry of Finance is located in the Govern-ment Administration Complex, Akersgata 40, Oslo. The Ministry has 7 departments with a total of 314 employees.AdministrativeAffairsDepartement 48EconomicPolicyDepartment 23BudgetDepartment 55FinancialMarketsDepartment 30TaxPolicyDepartment 77TaxLawDepartment 32AssetManagementDepartment 49

Theeductionalbackgroundofouremployeesisasfollows:

Wehire25–35newemployeeseachyearandarelookingforskilledeconomists,lawyersandsocialscientists.Ourvacan-ciesareadvertised(continually)atwww.jobbifinans.dep.no

Budget 2013

Keywebsites:

MinistryofFinance:http://www.regjeringen.no/fin

FiscalBudget:http://www.statsbudsjettet.no

TheTaxAdministration:http://www.skatteetaten.no

TheCustomsandExciseAuthorities:http://www.toll.no

EconomyforYouth:http://www.ungokonomi.no

Published by Ministry of FinanceMailingaddress:P.O.Box8008Dep,0030OsloVisitingaddress:Akersgt.40Telephone:+4722249090Internet:http://www.regjeringen.no/finE-mail:postmottak@fin.dep.no

Public institutions may order additional copies from:NorwegianGovernmentAdministrationservicesInternet:www.publikasjoner.dep.noE-mail:publikasjonsbestilling@dss.dep.noTelephone:+4722242000

Publicationnumber:R-0636EISBN:978-82-91092-90-4ENGELSK

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