Flood moving abroad has come as a shock and is costing tens of millions in lost tax receipts
for low-tax countries after the centre-left government increased wealth taxes to 1.1%.
His relocation will cost Norway about NOK 175m in lost tax revenue a year. Last year, Røkke was the country’s highest taxed individual. Dagens Næringsliv calculated that he has paid about NOK 1.5bn in tax since 2008. “In my opinion it is a little bit like Brexit. Norway has no great tradition of self-harm, and the flood of entrepreneurs moving abroad has come as something of a shock,” Gjems-Onstad, said. “Some politicians are, as you know, blaming the wealthy people moving, but I think many ordinary people quite simply do not like that our best investors are leaving.”
“This is unfortunately the reality of today’s tax policy. It is unjustifiable to impose such costs on the company when you want to create new jobs,” he said.
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