skattekreditt

Skattekreditt, also known as tax credits in English, is a refundable tax credit provided by the Norwegian government to low-income families with children. The program was introduced in 2005 with the goal of reducing tax payments for families with limited financial resources. The name "Skattekreditt" translates to "tax credit" in English.

Eligibility for Skattekreditt is based on income, family size, and the number of children in the household. The credit is designed to help offset the costs of living and childcare expenses for low-income families. To be eligible, families must meet specific income requirements, which vary depending on the number of children and the family's overall income.

The amount of the Skattekreditt is calculated based on the family's income and the number of children. A maximum credit amount is available, which increases with the number of children in the household. In addition to the initial credit, families are also eligible for additional credits for each child. The total amount of the credit is calculated based on a percentage of the family's income.

Skattekreditt is administered by the Norwegian Tax Administration and is typically claimed at tax time. The program is funded through the Norwegian government's budget and is subject to annual appropriation. The effectiveness of Skattekreditt has been studied by researchers who have found that it provides significant benefits to low-income families, helping to reduce poverty and income inequality.

Overall, Skattekreditt remains a vital program in Norway's social welfare system, providing essential support to low-income families with children.