Income of 100 richest Norwegians almost double in last 10 years: report

Source: Xinhua| 2019-11-06 20:57:47|Editor: Shi Yinglun
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OSLO, Nov. 6 (Xinhua) -- While the income of 100 richest people in Norway almost doubled in last ten years, most other people have seen much smaller growth of their earnings, newspaper Aftenposten reported Wednesday.

The tax and income list for 2018 published on Tuesday showed that more Norwegians have a taxable income of more than 1 million kroner (109,529 U.S. dollars) per year. These figures do not include deductions before tax.

Last year, a total of 152,537 people earned over 1 million, 13,246 people more than the year before.

Over the past ten years, 100 richest Norwegians have had a 95-percent revenue growth, while 1,000 richest have seen an income growth of 65 percent.

At the same time, the income of an average taxpayer in Norway has increased by 41 percent.

However, according to the report, there are few signs that the inequality will sharply increase.

When it comes to age groups, 49-year-olds in Norway have the highest taxable income, which is 42 percent more than the median level.

Even though people's incomes start to decline sharply from the age of 62, as many become pensioners, people are relatively better off in their 60s compared to ten years ago.

This is partly due to the pension reform introduced in 2010, which made it possible for people to take out pensions while still at work. The goal was to get more people working longer, Aftenposten reported.