But, these laws might be a violation of EU law (free movement of capital, we are bound of these EU regulations due to the EEA agreement between EU and NOR)
Perplexity AI explains it better than me:
Norway's updated exit tax, effective from March 20, 2024, imposes a 37.84% tax on latent capital gains exceeding NOK 500,000 [about USD 46 000] for individuals emigrating from Norway[1][3]. The tax must be settled within 12 years of departure, with options for immediate payment, interest-free installments over 12 years, or deferred payment with interest[1][3]. Additionally, the tax applies if the taxpayer dies abroad, and no foreign tax credit is available[1][3]. These changes aim to prevent wealth migration but have sparked controversy due to potential impacts on entrepreneurship and international talent attraction[3][5].
Citations:
[1] https://blogg.magnuslegal.no/en/this-is-the-norwegian-exit-tax
[2] https://taxsummaries.pwc.com/norway/individual/other-taxes
[3] https://www.lifeinnorway.net/exit-tax-changes/
[4] https://assets.kpmg.com/content/dam/kpmgsites/xx/pdf/2023/01/TIES-Norway.pdf.coredownload.inline.pdf
[5] https://meshcommunity.com/norway-30/
[6] https://www.skatteetaten.no/en/person/taxes/get-the-taxes-right/abroad/tax-when-you-move-abroad/
[8] https://taxsummaries.pwc.com/norway/individual/income-determination
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