Misunderstanding about wealth tax and required return
Petter Bjerksund and Guttorm Schjelderup: Wealth tax reduces investors' income, but at the same time it reduces investors' required return. The two effects offset each other, and Norwegian and foreign investors place the same value on the project.
Our research shows that the impact of a tax must be analyzed based on how economically rational actors operate in a market. A healthy debate about Norwegian tax policy must have as its premise that investors are rational and cannot be based on claims that the wealth tax in particular leads investors to act irrationally, Petter Bjerksund og Guttorm Schjelderup write.
Their opinion piece Misforstår om formuesskatt og avkastningskrav (in Norwegian) was published in Dagens Næringsliv on 31 August, 2025.