The tax system for individuals is based on ordinary income and personal income, as well as tax on assets and is a progressive system. NOK 50.000 for married couples and singles with dependents, and NOK 25.000 for singles. Personal income is income arising from individual efforts and employment, and will be calculated for employees, sole traders and individuals receiving social benefits. This figures form the basis for calculating social security contributions, and a top tax. There are certain provisions for residents residing less than a whole year in this country.
Dividends are in principle taxable as an ordinary income.
There is however given a tax credit equaling in principle this tax, giving the result that the tax in reality paid by the company giving dividend. As a general rule, disposal of private residences and holiday homes, as well as personal belongings and furniture, is tax exempt. Interests from Norway are not subject to any withholding tax. The purpose of the treaties is to avoid double taxation. All employers have to pay a contribution based on the salary of the employees and the location in Norway.