The Norwegian Government abolishes the inheritance tax

21.11.2013: The new Norwegian Government has in their tax programme for 2013 followed up their election promise of abolishing the inheritance tax for all gifts and inheritance received after the 1st of January 2014. The inheritance tax bases, which are also used as a base for the capital gains tax, will be replaced by new tax bases. These will in most cases equal the deceased’s or donor’s entry values. However, if the deceased could have sold his dwelling, holiday home or farm free of tax, the recipient is also granted a capital gains tax exemption at the inheritance settlement.  For more informtion se the Governments press release.