Scheel Committee tax reform proposal creates winners, losers / News / The Foreigner

Scheel Committee tax reform proposal creates winners, losers. The proposal would seek to reform the Norwegian taxation system. One of the suggested changes to new tax reform could result in 40,000 fewer having to pay wealth tax. Property owners would be penalised, however. The Scheel committee was appointed by then Prime Minister Jens Stoltenberg government. Statistics Norway (SSB) CEO Hans Henrik Scheel led it. Officials have been assessing the Norwegian taxation system since March 2013. They published a report with their suggested changes this week.

tax, companies, corporations, finance, property, norway



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Scheel Committee tax reform proposal creates winners, losers

Published on Wednesday, 3rd December, 2014 at 19:46 under the news category, by Susanne Tunge Østhus.

The proposal would seek to reform the Norwegian taxation system. One of the suggested changes to new tax reform could result in 40,000 fewer having to pay wealth tax. Property owners would be penalised, however.

Tax by definition
Tax by definition
Photo: Alan Cleaver/Flickr


The Scheel committee was appointed by then Prime Minister Jens Stoltenberg government. Statistics Norway (SSB) CEO Hans Henrik Scheel led it.

Officials have been assessing the Norwegian taxation system since March 2013. They published a report with their suggested changes this week.

One suggestion is that corporate and personal tax should be lowered from 27 to 20 per cent.

The proposals from the Committee are quite controversial for the Right-Wing government, however, as those who own a lot of property will have to bear part of the brunt of these reductions by paying higher property tax, amongst other things.

In total, the Scheel proposal is estimated to retain the same amount of taxes for 90 per cent of the population, but taxes will increase for the 10 per cent with the highest income, business website E24 reported.

“Housing should have been taxed harder earlier. Until now residential property has been shielded and favoured both the wealth tax and personal tax”, Hans Henrik Scheel told Dagbladet.

“Housing is a form of savings. And it should be taxed just as other forms of this are.”

CEO of financial advisor company Pengedoktoren, Agnes Bergo, told NRK that the winners in Scheel’s proposal are young people whose parents who do not support them financially.

This is because this proposal would make it easier for them to enter the real estate market.

“Rental homes can be cheaper because taxation is increased, making it more expensive for those who own a lot,” NRK has been told.

The proposals will now be out for consultation and broad political processing.

The report on corporate taxation submitted to the Ministry of Finance can be read here.



Published on Wednesday, 3rd December, 2014 at 19:46 under the news category, by Susanne Tunge Østhus.

This post has the following tags: tax, companies, corporations, finance, property, norway.





  
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