Norway Panel Urges Lower Labor Taxes, Simpler Wealth Tax (1)

Updates with finance minister’s comments from sixth bullet.

• Norway’s fiscal policy advisory panel says “a natural part” of a planned comprehensive tax reform would be lower taxes on labor, according to a statement
• Says a pending tax agreement “should include improvements in wealth tax, regardless of the level at which the wealth tax should be levied”
  • Urges removing various rebates on types of assets, adding that “distributional considerations can be addressed through a basic deduction and a progressive wealth-tax rate”
  • Says tax benefits for housing should be gradually reduced and eventually eliminated
  • NOTE: A separate tax commission was appointed last ...