Person taking a picture of a green field

Telenor is a long-term owner, employer and taxpayer in the markets where we operate. Telenor’s operations contribute with tax revenue, employment and investments and our industry drives crucial societal digitalisation. Contributing positively to societies where we operate is a key component in building trust in Telenor and creating a predictable and productive business environment. Together, these elements improve our value creation prospects in all areas in which we are present.


We are committed to working with governments and regulators to secure modern policy frameworks, ensuring that everyone can derive the full benefit of a digital society. We have public policy positions on cyber security, spectrum, tax, privacy and data protection, net neutrality, free flow of data and e-SIM and aim to be open and inform about these policies.

Telenor supports efficient use of radio spectrum resources for the increasing demands for mobile broadband capacity. Telenor employs local vendors for network rollout and civil works, or alternatively buys network capacity from local tower companies.

Performance 2020

In 2020, Telenor’s investments, excluding licences, spectrum and lease, amounted to NOK 16.4 billion (17.4 billion in 2019), from a total revenue of NOK 122.8 billion (NOK 113.7 billion in 2019), with a resulting investment ratio of 13.4 per cent (15.3 percent in 2019).

Telenor is a significant investor in the five Asian countries in which it operates. Connecting 172 million customers in Asia, Telenor contributes to direct and indirect value creation through long-term investment. In 2019, Frontier Economics published a study that quantified Telenor’s direct and indirect value creation in five Asian markets. Direct value added was estimated along global national accounting conventions.

In mature Asian markets and in the Nordics, Telenor strives to build economic value by creating opportunities within 5G, IoT, AI and other advanced digital services.

Telenor also stimulates increased value creation in other companies and sectors by investing in infrastructure, buying local goods and services, and raising their productivity via digitization. Telenor also pays substantial regulatory fees and indirect taxes on products and services, such as Value Added Tax (VAT), General Sales Tax (GST), customs duties, service taxes and revenue sharing.

Our tax policy and practice

Another economic contribution is made through tax. Telenor Group maintains responsible tax policy and practices in line with legislation in every jurisdiction of operation, and we have reported our country-by-country earnings, investments, taxation and employment since 2014. We are in constant dialogue with the relevant authorities regarding tax, for instance on whether we need to adapt to new legislation.

Our tax policy and practice is in line with legislation in all our markets. Telenor Group follows the terms of applicable Double Taxation Treaties, relevant OECD guidelines in dealing with transfer pricing and establishing taxable presence, and the BEPS (Base Erosion and Profit Shifting) initiatives. We endorse the aims of transparency and fairness across the global tax system, exchange of financial information and concerted action to fight base erosion and profit shifting.

Country-by-country reporting

The following table specifies the most important elements of Telenor’s direct economic contribution country-by-country. It includes Telenor’s revenues, capital expenditure, EBITDA and the corporate income taxes paid in 2020. The table does not specify all taxes and fiscal levies – only corporate income tax (CIT) is included.

Financial year 2020 million NOK Revenues Capex EBITDA Profit before taxes Corporate income tax (CIT) Man-years per 31.12.2020
Norway 28,332 5,601 15,382 7,813 990 3,314
Sweden 13,336 1,454 5,341 2,827 531 1,554
Denmark 5,217 520 1,348 401 339 1,086
Finland 10,027 1,903 3,558 934 191 1,487
Thailand 23,662 7,718 9,251 1,928 248 3,152
Malaysia 13,753 1,605 7,003 3,934 902 1,461
Bangladesh 15,411 1,165 9,824 7,134 2,935 2,086
Pakistan 5,597 891 2,982 288 188 1,264
Myanmar 6,971 540 4,272 1,349 158 747
Other 504 43 396 967 94 1,765
Telenor Group 122,811 21,440 58,565 25,641 6,577 17,916