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Rich flee Norway at high rate as tax on wealth increases slightly

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Added by MiAmigo
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Taxes on the wealthy population in Norway seem to be taking their toll, as more of the wealthy are leaving the country than ever before. Despite Norway’s tax rate increase to just over thirty-six percent on incomes of over $864,000, the rate of departing wealthy citizens has seen an exponential rise in the past few years.

The Norwegian treasury has lost an estimated $809 million on account of wealthy citizens fleeing the nation in 2019. This means the government is suffering a substantial amount of loss in terms of revenue, which could only decrease if the rate of departure remains above average.

In this video, we discuss the reasons why so many of the wealthy are choosing to leave Norway in such high numbers and how this could potentially affect the economy. We also examine the possible solutions to this situation and how the government can make sure that the Treasury does not suffer more losses in the near future.

List of Topics covered:

1.Tax rate increase in Norway
2.Number of wealthy citizens leaving Norway
3.Estimated loss to the Treasury
4.Reasons why wealthy citizens are leaving
5.Potential solutions

Tags: #taxrateincrease #wealthycitizensleavingNorway #treasuryloss #whywealthyleave #solutions #richfleeNorway
Category
NORWEGIAN NEWS
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