Norway Proposes Tighter Exit Taxation Rules for Individuals

Private individuals moving from Norway will have to pay exit tax on accrued but unrealized capital gains within 12 years, under a proposal published Wednesday by the Nordic country’s finance ministry.

The proposal aims to close a loophole where payment of the tax can be deferred until the capital gains are realized or gifted, which theoretically means indefinitely, according to the government.

It takes provisional effect Wednesday, though is subject to a public consultation ending May 21 and then parliamentary approval.

• The provisional effect is to ensure that “significant untaxed values” are not sent out of the country ...