Norfund portfolio companies contribute to sustainable development by paying taxes and fees to the countries in which they operate.<\/p>\n\n\n\n
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Taxes paid in 2022<\/h2>\n\n\n\n
23.2<\/div>
BNOK<\/div><\/div>
<\/div><\/div>
Total taxes paid by portfolio companies<\/p><\/div>
17<\/div>
BNOK<\/div><\/div>
<\/div><\/div>
Total taxes paid in Africa<\/p><\/div>
0.5<\/div>
BNOK<\/div><\/div>
<\/div><\/div>
Increase in total taxes paid by portfolio companies*<\/p><\/div><\/div><\/div>\n\n\n\n
*In companies with two consecutive years of reporting<\/sub><\/p>\n<\/div><\/div>\n\n\n\n
Development rationale<\/strong><\/h3>\n\n\n\n
Domestic resource mobilisation is one of the most important ways to facilitate sustainable development. A tax base provides governments with essential resources to spend on infrastructure and public services, such as health, education and social protection.<\/p>\n\n\n\n
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<\/p>\n\n\n\n
Norfund\u2019s investments contribute both directly and indirectly to achieving SDG Target 17.1<\/em><\/p>\n<\/div>\n<\/div>\n\n\n\n<\/figure>\n\n\n\n
Results in 2022<\/strong><\/h3>\n\n\n\n
Profitable businesses pay taxes to governments in the countries in which they operate. Taxes and fees are paid by Norfund\u2019s portfolio companies and by companies in their value chains.<\/p>\n\n\n\n
In 2022, an amount equivalent to NOK 23.2 billion had been paid in taxes and fees by the companies in which Norfund is invested, both directly and through funds. This corresponds to almost 47 % of the total Norwegian development aid in 2022.<\/p>\n\n\n\n
<\/h3>
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43% was paid as corporate income tax and 57% was paid as other transfers, such as sales taxes, withholding taxes, net VAT, royalties, license fees and social security payments.<\/p>\n\n\n\n
From the end of 2021 to the end of 2022, the total taxes and fees paid by companies with two consecutive years of reporting increased by NOK 0.5 billion.<\/p>\n<\/div><\/div>\n\n\n\n
![\"\"](\"https:\/\/reports.norfund.no\/wp-content\/uploads\/sites\/2\/2021\/05\/SDG17_1.png\")
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