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Had a look at the linked articles. > Norway levies a net wealth tax of 1 percent on individuals’ wealth stocks exceeding NOK 1.7 million (EUR 150,000 or USD 16
by maeil 2y ago
Had a look at the linked articles.
> Norway levies a net wealth tax of 1 percent on individuals’ wealth stocks exceeding NOK 1.7 million (EUR 150,000 or USD 160,000), with 0.7 percent going to municipalities and 0.3 percent to the central government. Norway’s net wealth tax dates to 1892. Additionally, for net wealth exceeding NOK 20 million (EUR 1.74 million or USD 1.88 million), the tax rate is 1.1 percent.
So if the post-$40m raise founder's share is $30m (number doesn't really matter), he'd have to pay 1.1% of that in wealth tax? So he'd have do dilute his share from e.g. 75% to 74.25%.
Moving to Switzerland of all countries over just that? Ironically one of the only ~4 other countries in the world with a wealth tax? Makes very little sense.
It's telling that he writes this whole article extremely critical of it all, without once mentioning the actual percentage he'd have to pay and is moving over. Surely that's the most critical information here.
- xhkkffbf 2y agoIsn't the wealth tax every year? 1.1% compounds over time. After 20 years, it could be substantial.
- hoppp 2y agoThey have taken 80m in investments but probably dont have that much customers at dune analytics, so they dont wanna pay yearly just to hold that money in norway because they probably pay more tax than the sales they generate.
- noch 2y ago> So if the post-$40m raise founder's share is $30m (number doesn't really matter), he'd have to pay 1.1% of that in wealth tax? So he'd have do dilute his share from e.g. 75% to 74.25% Paying 1% on $80M for a company that isn't making a profit is a trivial amount to you? Must be nice. :-)
- croes 2y agoMaybe a $80M should make profit. Sounds like a failed business.