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/
[7] https://www.skatteetaten.no/en/person/taxes/get-the-taxes-right/abroad/tax-residence-in-norway-when-moving-to-or-from-norway/
[8] https://taxsummaries.pwc.com/norway/individual/income-determination
Rune Østgård
npub1sv…tsrw4
2024-11-16 19:02:27
in reply to nevent1q…gajy
Author Public Key
npub1sv4zk080fvt4f3982u5kffzdkex3nm0kylky29um2xws5h4wsxvswtsrw4Published at
2024-11-16 19:02:27Event JSON
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"content": "Perplexity AI explains it better than me:\n\nNorway'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].\n\nCitations:\n[1] https://blogg.magnuslegal.no/en/this-is-the-norwegian-exit-tax\n[2] https://taxsummaries.pwc.com/norway/individual/other-taxes\n[3] https://www.lifeinnorway.net/exit-tax-changes/\n[4] https://assets.kpmg.com/content/dam/kpmgsites/xx/pdf/2023/01/TIES-Norway.pdf.coredownload.inline.pdf\n[5] https://meshcommunity.com/norway-30/\n[6] https://www.skatteetaten.no/en/person/taxes/get-the-taxes-right/abroad/tax-when-you-move-abroad/\n[7] https://www.skatteetaten.no/en/person/taxes/get-the-taxes-right/abroad/tax-residence-in-norway-when-moving-to-or-from-norway/\n[8] https://taxsummaries.pwc.com/norway/individual/income-determination",
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