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

This applies to you who live in another Nordic country and own shares in a Norwegian company or units in a Norwegian mutual fund. This information only applies to income from shares and mutual funds.

There are special rules for shares and units in mutual funds within a Share savings account.

Dividend from shares and distributions from mutual funds

Taxation in Norway

Share dividends from a Norwegian company may be taxed in Norway.

The company deducts tax when making the payment and pays it to the tax authorities. You do not need to send a tax return to the Norwegian tax administration.

Pursuant to the Nordic Tax Treaty, the tax is limited to 15 per cent.

Distribution from mutual funds are taxed as share dividends when the ratio of shares in the fund at the start of the income year is more than 80 per cent. If the ratio of shares at the start of the income year is between 20 and 80 per cent, the part of the distribution that corresponds to the ratio of shares is taxed as share dividends. The rest of the distribution is taxed as interest income. If the ratio of shares in the fund is less than 20 per cent, the whole distribution is taxed as interest income.

Pursuant to the internal rules in Norway, only the part of the dividend that exceeds a fixed risk-free return on the opening value of your shares is liable to tax. The risk-free return is calculated for each share owned on 31 December in the income year and determines how much of the dividend is tax-free.

If the tax that is calculated according to the internal rules in Norway (25 per cent of the dividend in excess of the risk-free return) is less than 15 per cent of the gross dividend (calculated per share), you can request a refund of the excess Norwegian tax.

You may also request a refund of the excess Norwegian tax if the company has deducted tax of more than 15 per cent.

Such requests must be addressed to The Norwegian Tax Administration, P.O. Box 9200 Grønland, NO-0134 Oslo.

You must provide all the information necessary for the tax authorities to be able to decide whether you are entitled to a refund.

You find more information on skatteetaten.no.

Taxation in country of residence

Share dividend from a Norwegian company and distributions from a Norwegian mutual fund are also taxable in your country of residence. You can request a deduction for the Norwegian tax from the tax you pay in your country of residence (credit).

Profits from the sale of shares and units in unit trusts

If you have never lived in Norway, profits from the sales of shares in a Norwegian company are not taxable in Norway. The same applies to profits from the sale of units in a Norwegian mutual fund. You will be taxed in your country of residence according to the rules that apply there.

Tax liability when moving from Norway

If you move from Norway and you are no longer subject to full tax liability in Norway according to internal legislation or the Nordic Tax Treaty, you are comprised by the rules on exit tax on unrealised net profits on shares and units in mutual funds. You are only liable to exit tax when the total profit exceeds NOK 500.000.

You find more information on skatteetaten.no.

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