Some of Norway’s most affluent people are moving to Switzerland following the Nordic country’s decision to increase wealth taxes last year.
The Norwegian government raised the levy from 0.85% to 1.1% in November, prompting about 65 of its wealthiest people to relocate.
The group, which is worth more than 47 billion kroner ($4.4 billion), made the move to Switzerland over the course of a year, Norwegian newspaper Dagens Naeringsliv reported.
Individuals with a net wealth of more than 1.7 million kroner ($158,00) or married couples who have a net wealth of over 3.4 million ($317,000) have to pay the 1.1% tax, according to data from PwC.
[If they have enough money to tax and tax again, they have enough money to up and leave when they get tired of it. ~ Beege]
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