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 unit trust. This information only applies to income from shares and unit trusts.
Dividend from shares and distributions from unit trusts
Taxation in Norway
Share dividends from a Norwegian company may be taxed in Norway. Distributions from unit trusts are taxed in the same way as share dividends.
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 authorities.
Pursuant to the Nordic Tax Treaty, the tax is limited to 15 per cent.
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/ unit 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 withholding tax. You may also request a refund of the excess Norwegian withholding tax if the company has deducted withholding 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.
Taxation in country of residence
Share dividend from a Norwegian company is also taxable in your country of residence. You can avoid double taxation by requesting 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 unit trust. You will be taxed in your country of residence according to the rules that apply there.