This update explores high level trends and legal
developments across some of Norway's key business sectors that
have an international impact.
Norwegian economy has during Q2 been characterized by several
increases in the policy rate, a weak Norwegian krone (NOK) and
significant price growth. Starting from the policy rate of 3% set
in March, the rate was further increased to 3.25% in May and again
to 3.75% on 22 June. Additional increases are expected during
Q3.
On September 28, 2022, the Norwegian government presented a
proposition for new rules on taxation of profit from natural
resources. In May the tax rate on fish farming was set to 25%, down
from the proposed 35%.
The Norwegian Transparency Act is a relatively new law that came
into effect on 1 July 2022. The Transparency Act aims to promote
businesses' respect for fundamental human rights and decent
working conditions while ensuring public access to information. It
imposes obligations on businesses,
