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Do you live in Norway and own shares etc. in another Nordic country?

This applies to you who live in Norway and own shares in a company or units in a unit trust in another Nordic country. This information only applies to income from shares and units in unit trusts.

Dividend from shares and distributions from unit trusts

Taxation in the source country

Share dividends are taxable in the source country. According to the Nordic Tax Treaty the tax rate is 15 per cent. You can avoid double taxation by requesting a deduction from your Norwegian tax for the tax you have paid abroad (credit). The deduction may not exceed the Norwegian tax payable on the dividend.

Taxation in Norway

Dividend from a company in another Nordic country is taxable in Norway pursuant to the same rules that apply to dividend from a Norwegian company. Distributions from unit trusts are taxed in the same way as share dividends.

Only the part of the dividend that exceeds a fixed risk-free return on the opening value of your shares is taxable.

The risk-free return is calculated for each share/ unit owned on 31 December in the income year and determines how much of the dividend is tax-free. If the dividend is greater than the risk-free return, the excess amount will be taxed at a rate of 28 per cent. 

Everyone who owns foreign shares must complete RF-1059 "Skjema for fastsettelse av inngangsverdi og beregning av skattepliktig utbytte for aksjer/andeler" (Form for fixing the opening value of taxable dividend from shares/units - in Norwegian only)". The guidelines for completing the form are in RF-1072. The form must be submitted with your tax return. Both the form and guidelines can be downloaded from skatteetaten.no. The same applies if you own units in a foreign unit trust and have not received a statement of your holdings from the Norwegian Registry of Securities or the investment management company.

If more than 15 per cent withholding tax has been deducted from the dividend paid by a company resident in another Nordic country, you are entitled to have the excess tax refunded in the other country.

Profits on the sale of shares and units in unit trusts

Profits on the sale of shares in a company in another Nordic country are taxed in Norway pursuant to the same rules that apply to profits on shares in a Norwegian company. Profits on the sale of units in a unit trust are taxed pursuant to the same rules that apply to profits on the sale of shares.

In the case of shares sold after 1 January 2007, any risk-free return not already deducted when calculating the taxable dividend, will be taken into account when calculating the taxable profit.

If you have been resident in another Nordic country, profits on the sale of shares in a company in that country may also be taxable there if the sale was made in the year in which you become resident in Norway pursuant to the Nordic Tax Treaty, or in a number of subsequent years. There are different rules in the Nordic countries regarding for how long profits on the sale of shares can be taxed after moving abroad. If you are taxed in another Nordic country, you can avoid double taxation by requesting a deduction from your Norwegian tax for the tax you paid abroad (credit). The deduction may not exceed the Norwegian tax payable on the profit.

Losses on the sale of shares in a company resident in another Nordic country are deductible pursuant to the same rules that apply to losses on the sale of shares in a Norwegian company.

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