Every year, Norfund collects data on key development effects from our direct and indirect investees. The enterprises are asked to report the sum of corporate income taxes transferred to the government during the last calendar year. They also report additional forms of transfers, such as sales taxes, withholding taxes, net VAT, royalties and licence fees.

Taxes paid in 2017

In 2017, Norfund’s investees paid NOK 9.3 billion in taxes and fees. Approximately half of this amount was corporate income taxes. Enterprises operating in Africa paid NOK 5.6 billion in taxes and fees, whereas enterprises in Asia transferred NOK 2.4 billion. Our portfolio companies in Latin America paid 1.2 billion in taxes in 2017.  

 

Estimated tax per country
CountryTaxes paid, NOK
Angola 34 000 000
Bangladesh 1 370 000 000
Bolivia 146 000 000
Cambodia 362 000 000
Costa Rica 57 000 000
Ecuador 27 000 000
El Salvador 150 000 000
Ethiopia 74 000 000
Ghana 408 000 000
Guatemala 47 000 000
Honduras 163 000 000
India 121 000 000
Kenya 1 005 000 000
Laos 111 000 000
Mozambique 26 000 000
Myanmar 1 000 000
Nicaragua 361 000 000
Nigeria 62 000 000
Other* 11 000 000
Other, Africa* 2 443 000 000
Other, America* 113 000 000
Other, Asia* 487 000 000
Panama 14 000 000
Peru 75 000 000
Rwanda 56 000 000
South Africa 135 000 000
South Sudan 6 000 000
Tanzania 924 000 000
Thailand 50 000 000
Uganda 199 000 000
Zambia 214 000 000
Total 9 252 000 000

*This includes data from countries with less than 4 reporting enterprises as well as companies with operations in several countries in the region.  

 

Principles for Responsible Tax 

Successful businesses will contribute to increased government tax revenues which allow the government to provide services such as education, health care and public infrastructure. A responsible tax policy is thereby a fundament for Norfund´s operations. Our tax policy is based on the principles stated in the Norfund Act, Norfund's statutes and EDFI's principles for responsible tax in developping countries.