Hearing proposal on changes to the exit tax rules

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.

Corporate taxation expert from PwC becomes partner at Brækhus

Corporate taxation expert from PwC becomes partner at Brækhus

We are delighted to welcome Kim Fosshaug as a partner at Brækhus from March 1st. Fosshaug joins Brækhus from the position as a Lawyer/Director at PwC.

Kim Fosshaug is an expert in national and international corporate taxation, with specialised knowledge in international taxation and in the financial sector. He assists national and international investment companies, financing institutions, and other financial sector entities with matters related to international taxation, regulatory issues, and EU/EEA law. He also offers advice on national and international tax and corporate law, including restructuring and reorganisations, and appeals. 

– I am excited to be part of Brækhus and their renowned Tax and VAT team. Brækhus’s strong international profile and focus has been an important factor in my choice of Brækhus, says Fosshaug. 

Partner Kim Fosshaug og Partner/Head of Tax and VAT, Nils Eriksen.

Brækhus’s Tax and VAT team is among the country’s leading tax law environments, which, unlike the “big four”, is audit-independent. The team provides advice at all stages of tax law and has extensive experience in national and international tax law, VAT, customs and excise duties, and cross-border taxation of individuals. 

Brækhus assists Norwegian and international companies with establishment in Norway and abroad, and employees across borders through our well-known global mobility offering. For many of our international clients, Brækhus acts as a One-Stop-Shop – a single contact point for tax advice and all legal services. 

– Tax is a strategically important area for Brækhus. We are very pleased to have signed Kim. With Kim on board, our already strong tax and VAT team is further strengthened,” says Nils Eriksen, Partner and Head of the Tax and VAT department.