Norway’s Progress Party wants to reduce the wealth tax

Helge André NjåstadPhoto: Terje Pedersen / NTB

The Progress Party (FRP) wants to reduce the wealth tax by removing the tax on so-called working capital.

On Wednesday, April 7, FRP’s Helge André Njåstad will present a proposal on the matter in the Norwegian parliament (Storting). Nine others in the FRP’s parliamentary group have supported the proposal.

“It has been a year where crisis packages, lockdowns, and health have been the main focus. It is high time to focus on the challenges we will face when Norway reopens,” Njåstad told news bureau NTB.

He pointed out that the wealth tax is a special Norwegian tax that foreign owners do not have to pay. 

At the same time, he invited the other parties to a new tax settlement where a reduction of the wealth tax would be included.

Supporting the business community

“The most important thing the Storting can give the business community after the corona pandemic is tax relief by removing the wealth tax on working capital, defined as shares, and commercial real estate,” he noted.

In the budget agreement that the FRP entered into with the government parties in December last year, the wealth tax was cut by just over NOK 1.3 billion.

In addition, the FRP won approval for its demand for reduced taxes on snus, beer, wine, and chocolate, as well as more money for landslide protection.

Source: © NTB Scanpix / #Norway Today / #NorwayTodayFinance

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