A Norwegian tax reform committee recently proposed a personal tax on the realized income shares after deduction for an imputed risk-free rate of return. This paper describes the design of the proposed shareholder income tax and shows that it will be approximately neutral in several important...

This note extends the work by Sørensen (2005) and others by demonstrating why the Norwegian Shareholder Income Tax may be neutral between the two sources of equity funds, i.e. new share issues and retained earnings, despite the fact that the retention of earnings to finance new investment does...

A classic dual income tax is a schedular income tax in which capital income (broadly defined, and including corporate income) is taxed at a relatively low flat rate and labor (and unspecified) income is taxed at higher progressive rates. The Nordic countries, in particular Norway, have pioneered...