Capital and debt

If you are not tax resident in Norway, you are only liable to tax for capital in the form of real property in Norway and assets in business activities operated in Norway. If capital other than real property in Norway has been entered in advance in your tax return, you must delete these amounts.

If you are tax resident in Norway, you are liable to tax in Norway for capital both in Norway and abroad. The right to levy tax can be limited by tax treaties, if any

It is your capital and debt at 31.12.2016 that are to be stated.

Item 4.1.1 Deposits in Norwegian banks

If you are tax resident in Norway, deposits in Norwegian banks are liable to tax.

Items 4.1.4, 4.1.5, 4.1.7 and 4.1.8 Shares and units in unit trusts 

If you are tax resident in Norway, capital in the form of shares or units in unit trusts are liable to tax.

Item 4.1.9 Deposits in foreign banks

If you are resident in Norway for tax purposes, deposits in foreign banks are taxable. You must enter deposits in foreign banks here if you are resident in Norway for tax purposes. The deposits must be specified using form RF-1231E "Deposits in foreign banks", which must be submitted with your tax return.

Item 4.3.2 Real property in Norway

Here, you enter the tax value of housing in Norway. Holiday homes in Norway are entered under item 4.3.3 and other real property in Norway under item 4.3.5.

Item 4.6.1 Real property abroad

If you are tax resident in Norway, you must enter the tax value of real property abroad here. The assessment value for property overseas must be determined according to Norwegian rules. The same rules apply for asset valuation of residential and holiday properties overseas as for holiday properties in Norway.

For properties which have not previously had an assessment value determined according to Norwegian rules, the assessment value will be calculated as no more than 30 per cent of the market valuation overseas. It should not be based on any asset valuation determined by another country's tax authority.

Item 4.6.2 Other taxable capital abroad

If you are tax resident in Norway, you must enter all capital abroad except foreign bank deposits and real property here when the capital is liable to tax in Norway, including:

• foreign shares and other securities

• units in foreign unit trusts

• units in foreign bond/money market funds

• outstanding claims against foreign debtors

• holdings in foreign companies that are not income from self-employment

• the value of endowment insurance policies in foreign companies

• other capital abroad