Hearing proposal on changes to the exit tax rules
The current Norwegian government lead, by Jonas Gahr Støre, has once again worked the night shift, and presented a hearing proposal on March 20 to tighten the rules for exit tax. The changes are proposed to take effect from today, Thursday, March 20, 2024.
The proposal involves relatively significant changes. Among other things, it will mean that the possibility of indefinitely postponed payment of calculated exit tax will be terminated, in addition to the introduction of exit tax on share savings accounts and capital insurance, as well as tax at death abroad.
This proposal is intended as part of the measures to stop the migration of wealthy individuals and capital, but it may well achieve the opposite; people will move out earlier than they otherwise would have. We must wait and see what the final result will be, both in terms of the final legal text and the effect the new rules will have on emigration.
Click here to read the government’s consultation document.
