The Ministry of Finance (Mof) has published a regulation to set the late interest rate for the second half of 2018 (from 1st July 2018 to 31st December 2018). The interest rate is set at 8.50% from 1st July 2018 to 31st December 2018, which is unchanged from the previous period. The Ministry of Finance has furthermore set standard compensation for collection costs in Norwegian kroner at 380 kroner.
The late payment interest rate is fixed every six months, with effect from 1st January and 1st July. The rate is determined each half-year based on Norges Bank’s key interest rate, added at least 8% points. The rules on this implement EEA rules that correspond to the EU’s late payment directive.
