According to Dagens Næringsliv, 27 wealthy Norwegians have moved to Switzerland so far this year. One did not have to wait long for the next man in line. Billionaire and investor Rune Syversen also reports moving, writes Finansavisen on Wednesday. The government and budget partner SV believe it is time to change tax rules that can motivate people to take money out of the country. The Conservative Party, on the other hand, believes that the government can thank itself for what is happening. The problem is created by politicians, commented Deputy Chairman Henrik Asheim on Tuesday. – Instead of leading a predictable tax and business policy, the left is now desperately looking for quick ways to punish people. These are the changes On Tuesday, it became clear that the Ap-Sp government and SV have reached an agreement on next year’s budget. The government is introducing two changes to tax rules when moving out. The changes apply to removals and transfers carried out from and including 29 November 2022: Extends the five-year rule. The rule states that you stop paying tax on capital gains, such as share sales, after living abroad for five years. Henceforth, the tax claim will not lapse after five years. Transfer triggers transfer tax. Until now, it has been possible to transfer assets to close relatives (except spouses) abroad without this triggering a tax claim. That will no longer be possible. In addition, the parties will put in place a so-called relocation tax, or “exit tax”. The parties will investigate and propose to the Storting a relocation tax. The tax must ensure that unrealized gains accrued in Norway up to the time of relocation are actually taxed in Norway. Fears measures will be counterproductive – It seems that the government must now urgently introduce an exit tax to counter the results of the policy they are pursuing and which is now scaring competent capital out of Norway, says Høyre’s Heidi Nordby Lunde. – If the five-year rule is used as a loophole to move wealth, we also want to help close it, she points out. The Conservative Party will nevertheless wait for the Tax Committee’s work to look at the whole of Norwegian tax policy, before proposing changes. Heidi Nordby Lunde is a parliamentary representative for the Conservative Party and a member of the finance committee. Photo: Terje Pedersen / NTB Lunde believes it is important to avoid that the measure does not have effects that are contrary to its purpose, for example in that those who move out do not return to Norway again. – If, for example, they move out for completely legitimate reasons, such as to further develop or expand their businesses. We want the type of competent capital to further develop companies in Norway as well. SV will follow Høyre’s sister party – This has been a problem for a long time, says SV deputy leader Torgeir Knag Fylkesnes about the five-year rule. – If you accumulate large, unrealized gains in Norway, you can move out of the country, stay there for five years, and then you will avoid all that tax. We believe that this is an incentive to actually move out. Torgeir Knag Fylkesnes is deputy chairman of SV and deputy chairman of the industry committee at the Storting. Here from the budget negotiations with the government parties Ap and Sp. Photo: Terje Bendiksby / NTB – There is a tax committee, set up by the government, which will present a comprehensive tax system in three weeks. Why couldn’t you wait for it? – Extending the five-year rule has been investigated, says Fylkesnes. As regards a possible exit tax, it must be investigated before a proposal is presented to the Storting. – It is about realizing unrealized gains in the form of tax at the time of moving out. It is a German model. It’s Angela Merkel. It is the sister party of the Conservative Party that has introduced this.
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– Scares competent capital out of Norway – news Norway – Overview of news from different parts of the country
