Expat Taxes in Norway

[!WARNING] Norway taxes heavily, but offers immense social security in return.

Wealth Tax (Formuesskatt)

Like Switzerland and the Netherlands, Norway levies a wealth tax.

• The Rate: If your global net worth exceeds 1.7 million NOK (approx. $160,000 USD), you pay a 1% annual tax on the excess. For ultra-high-net-worth individuals (over 20 million NOK), the rate increases to 1.1%.
• The Exodus: In recent years, several Norwegian billionaires (like Kjell Inge Røkke) have fled to Switzerland specifically to escape this tax.

Income Tax

Norway uses a dual income tax system.

• General Income: Taxed at a flat rate of 22%.
• Bracket Tax (Trinnskatt): A progressive tax added on top of the 22% for higher earners, pushing the total marginal rate to nearly 47.4%.