To support a stable economy containing the Norwegian government has recently unveiled details of its 2012 fiscal budget. According to the declaration the overall level of taxation will remain unchanged in 2012. It also notes that there is scope for improvement in particular to prevent tax avoidance and to simplify the existing rules.
The Budget incorporates a number of fiscal measures. The budget includes some changes to corporate taxation and increase in the value-added tax (VAT) rate currently levied on foodstuffs from 14% to 15%.
