Helena Lyssand Mjelde
Senior Associate
Bergen
Newsletter
Norway proposes permanent wealth tax deferral scheme
by Helena Lyssand Mjelde, Carina Raa and Jana Johnsen
Published:
On 19 May 2025, the Norwegian Ministry of Finance released a consultation paper that proposes a permanent deferral scheme for Norwegian wealth tax payments. The proposed scheme is designed to support individuals facing liquidity challenges, offering relief to among others business owners who might otherwise struggle to pay wealth taxes due to illiquid assets.
Unlike the temporary schemes introduces in 2016, 2017 and 2022, this permanent scheme for deferral of payment of wealth tax does not require taxpayers with accounting-liable businesses to demonstrate a negative annual result to qualify for deferral. Thus, the scheme is likely to be relevant for more taxpayers.
The proposal sets a threshold of NOK 30,000 in wealth tax liability for the income year to qualify for deferral. Payment of the wealth tax can be deferred for up to three years. During this period, interest will accrue on the deferred amount at a rate equivalent to the Central Bank of Norway's policy rate plus 5%, currently equalling 9.25%. Importantly, no security is required for the deferred payment, simplifying the process for taxpayers.
The combination of a high interest rate and a relatively short deferral period may limit the scheme's attractiveness for taxpayers facing genuine liquidity issues with wealth tax payments. The Ministry's response to feedback from the consultation process, particularly regarding greater flexibility of terms, will be crucial for the scheme's practical utility.
The scheme is expected to take effect from the income year of 2026.
The consultation period concluded on 30 June 2025. We will continue to monitor developments and provide updates as the Ministry finalises the implementation details for the scheme.
For further information or to discuss your specific circumstances, please contact Schjødt's Tax department.
