Prime Minister Jens Stoltenberg announced on Sunday a fiscal revamp aimed at removing an economic disparity that has left land-based industries struggling under higher wage and other costs while the offshore sector is booming.
While other industries are set to gain tax cuts amounting to around Nkr3 billion ($515.2 million), the energy sector is being forced to take on a higher tax burden with a proposed reduction in uplift – an extra allowance for depreciation on investments – from 30% to 22%.
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