'Arctic Monaco' tempts wealthy Norwegians with tax breaks

'Arctic Monaco' tempts wealthy Norwegians with tax breaks

The municipality of Bø in North Norway has moved ahead with tax breaks as it positions itself as an Arctic tax haven. Norwegian financial media E24 reported in December that Bø, located in the Vesterålen region of Nordland county, was the country's first municipality to reduce inheritance tax for its residents. Since this January, moneyed inhabitants of the Bo region of Vesteralen pay less than half of the national wealth tax — 0.35% of their total holdings rather than 0.85%. The loc...

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