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> The capital growth tax will apply to most assets, taxing both realised and unrealised returns, including appreciation in value and income from assets like sha
by kingstnap 11mo ago
> The capital growth tax will apply to most assets, taxing both realised and unrealised returns, including appreciation in value and income from assets like shares, cryptocurrencies, and savings. Exchange results on bank balances in currencies other than EUR will also be taxed.
Ouch. I suppose this is supposed to combat the trend of share buybacks over dividends. Gonna seriously suck to be anyone Norwegian and having to sell stocks to pay for taxes on your unrealized gains.
Also if the euro dives as well during inflation its gonna be painful.
- anon291 11mo agoThe demonym of those from the Netherlands is 'Dutch'
- kingstnap 11mo agoI totally misread the title as Norway, guess I was thinking about the sovereign wealth fund.
- tom_ 11mo agoThis won’t obviously apply to Norwegians, as it’s for the Netherlands.
- stunami 11mo agoAh ha, but it would for expat Norwegians living in the Netherlands ! If we're not worried about the minority Norwegian expat groups, what has the world come to.
- tobyjsullivan 11mo agoSeems like it would also result in capital investors covering more year-to-year tax revenue, which could reduce some pressure on other tax payers. In theory, capital gains should average out over time. But in practice, I think an increasing amount of wealth is being held and not realized over many decades. It doesn’t help anyone that a few billion $ of gains will be taxed eventually if that is so far into the future that most citizens alive today will have passed away by then.
- abtinf 11mo agoSuch a policy will collapse the markets almost immediately. Everyone who would have held onto their assets will suddenly have to sell to cover taxes. This will cause a spiral of fire sales.
- energy123 11mo agoHousing?