What is the salary and income tax like in in Oslo, Norway?

Expert Info

on 15 Feb 2020

How much is the monthly salary range of an expat employed as a director of R&D at a nutrition company per month? What are the usual bonuses, perks and income tax like in Oslo?

StevenVoortman on 17 Feb 2020 - 07:25

Hi Gurleen

From what I could find, the average base salary for a R&D manager is 934 823 NOK/year. This is roughly 1003 NOK/month. A senior-level R&D manager with 8 years of experience can earn around 1,164 042 NOK/year.

As far as perks go, Oslo's relatively high cost of living is balanced by the high quality of life. Even in the city centre, the nearest park is never more than a few blocks away from their accommodation.

Taxes are very high in Norway, however not as high as many expats think. It is important to remember that even non-Norwegian expat residents are taxed on their Norwegian income. Foreign citizens are given a discount on taxes for the first two years of residence in Norway. Where are you moving from?

Our page on banking, money and taxes may be able to answer any further questions you have.

Hope this helps!

Steve

RizwanKhan on 19 Aug 2024 - 12:58

In Oslo, the income tax system is progressive, with rates increasing as income rises. For 2024, individuals earning up to NOK 199,999 are exempt from national income tax. Income between NOK 200,000 and NOK 279,999 is taxed at 1.7%, while earnings from NOK 280,000 to NOK 729,999 are taxed at 4%. Those with income between NOK 730,000 and NOK 999,999 face a 13.4% tax rate, and income over NOK 1,000,000 is taxed at 16.4%. In addition to income tax, residents also pay municipal taxes, which can vary but typically add around 22% to the overall tax burden.

For capital gains (https://www.uniondevelopers.com/blog/capital-gain-tax-on-property/), Norway imposes a tax rate of 22%, which applies to the sale of shares, real estate, and other investments, with some exemptions depending on the holding period and type of asset. While taxes in Oslo are high, they are balanced by Norway’s extensive social benefits and public services, making it an attractive place to live and work despite the tax burden.

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