17) Shareholder loan

Factual information:

There is one shareholder in the company Shareholder loan AS. The company has one share class, ordinary shares. The company pays out NOK 150,000 as a share loan and NOK 50,000 as an ordinary dividend, and waives NOK 50,000 of the loan. 

Information from the previous year:

Total share capital in the company: NOK 100,000 (carried forward)
Number of shares: 100
Nominal value per share NOK 1,000
Paid-up share capital: NOK 100,000

Information for the year (carried forward):

Total share capital in the company: NOK 100,000
Number of shares: 100
Nominal value per share: NOK 1,000
Paid-up share capital: NOK 100,000

Solution:

Enter the figures above as shown in the attachment below. 

New rules concerning shareholder loans:

The National Budget of 7 October 2015 states that loans from private and public limited companies (AS/ASA) to personal shareholders must be taxed as a dividend according to the shareholder model.

This change in the regulations will affect all personal shareholders and their associates who have entered into a loan relationship with a company since 7 October 2015 onwards.

The rules have been incorporated into Section 10-11 fifth and final paragraph of the Tax Act. The rules apply to loans from all companies in the group, even when the company pledges collateral for the shareholder's loan. Where the shareholder has an existing loan before 7 October 2015 and increases the loan amount, the increase must be treated as a dividend. The same applies if the company increased the amount of collateral it pledges from 7 October 2015 onwards.

The fact that the shareholder is subject to dividend taxation in respect of the loan is of no significance to the company; the loan must still be recognised as a loan in the company's accounts.

It is not a requirement to calculate interest on the loan, so that if interest is payable on the loan, it must be treated in the normal way. Deduction for the shareholder and interest income for the company.

Repayment of the loan:

  • The repayment of loans which are subject to dividend taxation is treated as a capital contribution in the company with an effect on the input value and the tax position “paid-up capital”.
  • All or a proportion of the loan can be settled through offsetting it against subsequent dividends from the company without further taxation.
  • The loan can be waived without further taxation.

Exceptions from the taxation of shareholder loans will be introduced. These exceptions will be introduced through new regulations, and are expected to concern smaller amounts and loans to employees of banks, etc. This article will be updated once the exceptions have been finalised. 

Consequences for reporting via RF-1086

A new field has been added for new event types under item 8 in:

  • Dividend (Y)
  • Shareholder loan (Z)

Similarly, a new field has been added to the corresponding item 22:

  • Repayment of previous paid-up capital (code 10)
  • Repayment of shareholder loan (AT)
  • Waiving of loan (ET)

Shareholder loans must now be reported as a separate event under item 8 at company level, and the loan must correspondingly be reported as a dividend under item 21 at shareholder level.

The repayment of loans which have previously been subject to dividend taxation will be treated as the contribution of new capital by the shareholder. This means that the amount that is repaid (or distributed) must be added to the input value of the shareholder’s shares, and must be reported under item 22.

The waiving of loans must also be registered under item 22, but this will not affect the input value of the shares.

Item 6 must be corrected in accordance with the amount that is registered in item 22, with the exception of the waiving of shareholder loans.

For correct completion, see the examples of correctly completed shareholder register statements:

 Shareholder loan. Main form and sub-form