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Write a 7 pages paper on norways economy. Answer # 1. Norway has the highest VAT and Cooperate tax rate in the Europe. The reason behind such high taxes is its social welfare programs. The standard ra
Write a 7 pages paper on norways economy. Answer # 1. Norway has the highest VAT and Cooperate tax rate in the Europe. The reason behind such high taxes is its social welfare programs. The standard rate of VAT in Norway is 25% and it is charged on every VAT goods and services. The corporate tax is about 28% in Norway. Despite that it has decreased in last several years but still it is the country with having the heavy taxes in whole Europe. The proper utilization of resources and amount receive from taxes are the key factors boosting Norway’s economy (Scottish Enterprise).
Answer # 2. Norway has only one stock exchange at Oslo. The statistics as per May01, 1997 shows that the total number of firms affiliated with Oslo Stock Exchange was 179. We get to know while having a deeper look in this figure that 166 of the total listed companies were Norwegian, 13 of them were foreign where as 3 companies were listed in small and medium size business in which the 96.9% of market capitalization is of the domestic market. (Chapter 7—Banking and finance)
Answer # 3.The estimated unemployment rate till 2006 was 3.5% and the inflation rate till the same year was 2.3%.
Answer # 4. According to the survey done in July 2007 the total estimated population of Norway are 4,627,926. The age structure in Norway population is categorized in three parts. The first of the total population is the people till the age 14 year. Second part is comprised of people between 15 to 64 and last part is of people with the age of 65 and above. A big majority of people is in the age structure of 15 to 64 is around 66.1% then the age till 0 to 14 years take around 19% and age group of 65 and above is around 14.8%. The median age of the people is around 38.7 years in Norway. The median age of men is 37.9 years and women are 39.6 years. (The World Factbook- Norway 2007)
Answer # 5.According to Norway law it requires general disclosure under the securities trading act as well some other requirement of industries. The law of legal entitles ship of holding not more than 10% has been amended in 2003. The acquisition of more than 10% can be taken place with prior government permission. A license will be issued if the permission is granted. (Norway: Securities)
Answer # 6.The television advertisement that is focusing on children and adolescents for marketing purpose is banned in Norway. The young people are the biggest market for them and play a vital as consumers. The advertisements that make feel children about the identity and self esteem affects them badly. The minors takes the effects of several things faster especially if some actions are shown it them. The government has put restriction on television advertisements during children’s program to prevent them from bad affects. The minors take the affect of things bit faster. The government banned the advertisements in 2002 after the proposal report submitted by committee. In the result companies banned from advertising their products on the children programs in television and radio both. (Ban on Advertising to Children – Norway)
Answer # 7.There are many companies actively investigating the market. One of which is TNS Gall up. It provides the research services in various sectors i.e. Bank & Finance, Post, Tourism, Automotive, Telecom, Internet, Media, FMCG, and Public Services. (TNS Gallup).Hugin Online also provides the services for financial information. It provides annual reports, press releases and financial statements of the listed with OSE.
(Norwegian Stock Market)
Answer # 8.Norway has the great employment rate of 70%. Its 71.9% of the total population is its workforce and 7.3% are absent due to sickness. The Norway enjoys the sufficient number of women employment that constitutes such employment rate. Approximately in every 10 women seven are employed while in men it’s every 7 out of 8. There were few percentage of women were employed in 1970. The sound economic policies create a number of job opportunities for both men and women. There are also a number of men and women work part time.
