Insights

Opposition to Norwegian Proposal to Amend Transfer Tax on Shares

Sverre Hveding 31 May 2024

A response by Selmer, Taxand Norway

The Norwegian Ministry of Finance has produced a proposal to amend the Tax Act’s rules on transfer tax for shares has sparked significant public debate since it was submitted for consultation.

In their consultation response, Sverre Hveding and Anders Nordli from Selmer, Taxand Norway have highlighted three main concerns with the proposal:

• Taxation of Unrealised Gains: A new approach which lacks tradition in Norwegian law.
• Reintroduction of Inheritance Tax: Which could have potentially ruinous consequences for the estate/heirs.
• Disregard for Post-Relocation Value Loss: This may lead to taxation on paper gains without the means to cover the tax claim.

Other responses have also criticised the proposal and questioned its compliance with EEA law. You can read the full consultation response here.

Article tags

Norway | Tax | Transfer Pricing