Tax Director would shed 1.000 kroner notes. Norges Bank is skeptical

WalletWallet - did it again with more money.Photo

Tax Director: – We do not need 500 and 1000 kroner notes.

The Tax Administration, many business sectors and banks want to get rid of large notes. Norges Bank , however, is not convinced.

We have no use for 500- and 1,000 kroner notes. If we remove them, we will reduce the black economy, says tax director Hans Christian Holte.

He says that cash plays an important role in evading taxes. Evasion is  increasingly happening  in networks with fictitious companies, fictitious invoices and use of cash.

– In the past there was talk about “kickbacks.” Now it is more advanced, often with foreign links. However the use of cash is still important, he says.

A note in the phone case
At G-sport in Storgata in Oslo , Kirsten Bergene Tjörns (57) just popped her card in the terminal.

– I do not normally use cash. I have a 200 kroner note stashed in my mobile phone case, she says.

The last time she had a 1,000-kroner note in her hand was when she bought Christmas presents for her cash-using mother of 82.


Source: / Norway Today