Global Daily Tax News, Norway Simplifying Tax Rules For Gifted Or Bequeathed Homes, (May 21, 2026)

Norway's Finance Ministry has launched a consultation on proposed changes to the tax rules that apply to the sale of a home or holiday home inherited or received as a gift.

The Ministry said the changes are intended to simplify the rules regarding tax liability and the availability of deductions.

The Ministry is proposing to waive capital gains tax on profit earned from the sale of a home that was received no more than a year ago through inheritance or as a gift. However, taxpayers will not be entitled to a deduction for any loss.

Existing rules will remain unchanged, including where the property is held for more than one year.

The Ministry said: "The proposal ensures that the person who receives the home or holiday home has the same tax exemption as the testator or donor would have had for one year after the property is received as an inheritance or gift. At the same time, the proposal ensures that the inheritor or gift recipient does not receive a deduction for losses in the same way that the testator or donor would not have been entitled to a deduction for losses."

Feedback is being sought on the proposal by July 10, 2026.