Annual tax return for private individuals – Shares

Three reasons to choose an annual tax return with Efremtid.no

1. We have extensive experience – we have been handling tax returns since 2005. This means we know how to help you through a favourable annual tax return process.
2. Everything is handled online – you do not need to come to our office. You only fill in a simple form.
3. We guarantee ongoing contact and support – we are available on working days from 9:00 to 21:00 by phone: +47 21 38 38 21. You can ask any question about your tax return, and we will, where possible, respond reliably and efficiently.

1. What does the service include?

This service is only an add-on to the private annual tax return service. Without ordering this service, we will not be able to complete the share tax return.

In addition to the standard tax return described above, the service includes**:**

• Entering information about a loss or gain from the sale of shares
• Declaring ownership of shares
• Information about the completion of the tax return and the next steps
• Support in case of additional questions

NOTE: The decision on whether deductions are allowed and the return is approved rests with the tax office in Norway. The service only covers mediation between you and the tax office.

2. What information do we need?

Before carrying out the service we will ask you to complete a form. It will be sent by email after ordering the service. It is necessary in order to include all required information in the tax return.

3. What do we add?

Loss from the sale of shares

If you sold shares or securities at a profit or a loss, the difference is taxable or deductible.

The capital tax rate is 22%. For example: you bought shares for 100 000 kr and sold them in the same year for 80 000 kr. The loss of 20 000 kr is deductible and reduces your tax by 4 400 kr. If, on the other hand, the sale resulted in a gain, you would have to pay tax.

Share gains – if you received a dividend or a gain from the realisation of shares

Gains from dividends or the realisation of shares, as well as losses in Norway, are entered automatically based on shareholders' returns. Such gains from abroad must be entered. The difference between the sale and the purchase is your gain or loss, which must be taxed or deducted. In addition, in Norway there is a deduction resulting from inflation and other market factors, which reduces the value of the gain from the realisation of shares. This is called skjermingsfradrag and you can calculate it on the website: https://www.skatteetaten.no/person/skatt/hjelp-til-riktig-skatt/aksjer-og-verdipapirer/om/skatteregler-for-gevinsttap-ved-realisasjoner-og-aksjeutbytte/skjermingsfradrag/  Example calculation:

2018: purchase of shares for 100 000 kr
2018-2022 no dividend and no sale
2022: sale of shares 1.10 for 130 000 kr
Tax base adjustment for 2022: 1,6 * 130 000 = 208 000
Skjermingsfradrag: 3 236 kr (based on the calculator)
Gain to be entered: 208 000 – 100 000 – 3 236 = 104 764 kr
Tax to pay: 104 764*0,22 = 23 048 kr

You must also enter the value of shares or other financial instruments held abroad. This increases your assets, which may result in wealth tax (above 1.7 million kroner per person, assets are taxed in Norway)