Norway's Tax-the-Rich Drive Provokes Widening Business Backlash [BNN Bloomberg (Canada)]
Nokia Corporation Sponsored American Depositary Shares (NOK)
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Source: BNN Bloomberg
The Labor-led government is poised to expand the scope of an exit tax on capital gains. The proposal, first revealed in March and due for parliamentary debate later this year, attempts to close a loophole exploited by an exodus of billionaires who have already moved to Switzerland to escape higher levies on their riches. While aimed at the country's wealthiest individuals, the potential impact is alarming a broader array of entrepreneurs and businesspeople, including startup chiefs such as Marit Rodevand, whose company, Strise AS, makes software to combat money laundering. “Norway is a very state-controlled oil-and-gas economy,” she said in an interview at her office in central Oslo. “We really need new industries. The politicians should step back and think: this tax doesn't make us competitive on the global scene.” Rodevand, who started her first company developing software for the construction industry more than a decade ago, warns that the measure could force her to freeze h
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