Tax Reform in Norway: A Focus on Capital Taxation
Norway's dual income tax system achieves high levels of revenue collection and income redistribution, without overly undermining economic performance and while paying attention to environmental externalities. It treats capital and labour income in different ways: capital income is taxed at a si...
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Paris
OECD Publishing
2012
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| Schriftenreihe: | OECD Economics Department Working Papers
no.950 |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Zusammenfassung: | Norway's dual income tax system achieves high levels of revenue collection and income redistribution, without overly undermining economic performance and while paying attention to environmental externalities. It treats capital and labour income in different ways: capital income is taxed at a single low rate, while labour income is taxed at progressive rates. However, effective tax rates on savings vary widely across asset classes. The favourable treatment of owner-occupied housing relative to financial savings should be reduced, preferably by taxing imputed rents at the standard 28% statutory rate. The wealth tax implies very high effective tax rates on savings, indicating that it either gives rise to tax avoidance or significantly inhibits growth. The government should investigate the issue and, if the growth-equity trade-off is too unfavourable to growth, phase out or lower the wealth tax. To restrain tax avoidance by the wealthy, the base of the gift and inheritance tax should be broadened. Overall, the reform package recommended in this paper would improve the allocation of capital and increase work and investment incentives. It could be designed to be broadly neutral in regard to income redistribution and public revenue. |
| Beschreibung: | 1 Online-Ressource (39 p.) 21 x 29.7cm. |
| DOI: | 10.1787/5k9bls0vpd5d-en |
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| spelling | Denk, Oliver VerfasserIn aut Tax Reform in Norway A Focus on Capital Taxation Oliver, Denk = La réforme fiscale en Norvège : Privilégier l'imposition du capital / Oliver, Denk La réforme fiscale en Norvège Paris OECD Publishing 2012 1 Online-Ressource (39 p.) 21 x 29.7cm. Text txt rdacontent Computermedien c rdamedia Online-Ressource cr rdacarrier OECD Economics Department Working Papers no.950 Norway's dual income tax system achieves high levels of revenue collection and income redistribution, without overly undermining economic performance and while paying attention to environmental externalities. It treats capital and labour income in different ways: capital income is taxed at a single low rate, while labour income is taxed at progressive rates. However, effective tax rates on savings vary widely across asset classes. The favourable treatment of owner-occupied housing relative to financial savings should be reduced, preferably by taxing imputed rents at the standard 28% statutory rate. The wealth tax implies very high effective tax rates on savings, indicating that it either gives rise to tax avoidance or significantly inhibits growth. The government should investigate the issue and, if the growth-equity trade-off is too unfavourable to growth, phase out or lower the wealth tax. To restrain tax avoidance by the wealthy, the base of the gift and inheritance tax should be broadened. Overall, the reform package recommended in this paper would improve the allocation of capital and increase work and investment incentives. It could be designed to be broadly neutral in regard to income redistribution and public revenue. Economics Norway FWS01 ZDB-13-SOC FWS_PDA_SOC https://doi.org/10.1787/5k9bls0vpd5d-en Volltext |
| spellingShingle | Denk, Oliver Tax Reform in Norway A Focus on Capital Taxation Economics Norway |
| title | Tax Reform in Norway A Focus on Capital Taxation |
| title_alt | La réforme fiscale en Norvège |
| title_auth | Tax Reform in Norway A Focus on Capital Taxation |
| title_exact_search | Tax Reform in Norway A Focus on Capital Taxation |
| title_full | Tax Reform in Norway A Focus on Capital Taxation Oliver, Denk = La réforme fiscale en Norvège : Privilégier l'imposition du capital / Oliver, Denk |
| title_fullStr | Tax Reform in Norway A Focus on Capital Taxation Oliver, Denk = La réforme fiscale en Norvège : Privilégier l'imposition du capital / Oliver, Denk |
| title_full_unstemmed | Tax Reform in Norway A Focus on Capital Taxation Oliver, Denk = La réforme fiscale en Norvège : Privilégier l'imposition du capital / Oliver, Denk |
| title_short | Tax Reform in Norway |
| title_sort | tax reform in norway a focus on capital taxation |
| title_sub | A Focus on Capital Taxation |
| topic | Economics Norway |
| topic_facet | Economics Norway |
| url | https://doi.org/10.1787/5k9bls0vpd5d-en |
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