3.1.3 Interest on loans to companies that is subject to extra tax (RF-1070)

Item 3.1.3 Applies to the tax year 2016

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Under this item, you enter calculated interest income on loans given to companies (limited liability companies, public stock companies, foreign companies, businesses assessed as a partnership, etc.) which is subject to extra tax. The calculation is performed in form RF-1070. The amount to be entered under 3.1.3 is the actual accrued interest after tax that exceeds a calculated deductible risk-free return.

Does this item concern me?

The item concerns everyone who has given loans to companies (limited liability companies, public stock companies, foreign companies, businesses assessed as a partnership, etc.).

If the loan is to a Norwegian company, the accrued interest must be entered under item 3.1.2. If the loan is to a foreign company, the accrued interest must be entered under item 3.1.11.

Rates and key figures

The risk-free interest rate applies for a period of two months at a time

How do I enter this in my tax return?

When you submit your tax return automatically, you will come to form RF-1070 Hjelpeberegning av renteinntekt til ekstrabeskatning ved lån fra personlig skattyter til selskap mv. (Calculation of interest income subject to extra tax concerning loans from personal taxpayers to companies, etc. - in Norwegian only) when you have to enter information under this item. In form RF-1070, you must enter the following information:

  • Month
  • Loan balance as of the first day of the month
  • Accrued interest during the month concerned

Interest income which is to be subject to extra tax will be calculated and entered automatically.

How to calculate what is to be subject to extra tax

Actual accrued interest on the loan

-Tax on the interest income (actually accrued interest amount x tax rate for general income)

-Calculated deduction for risk-free return (loan balance x risk-free interest rate)

=Interest income subject to extra tax

The interest income will be calculated for each month.

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Documentation requirements

You do not need to send us any documentation for this, but you must be able to present documentation if we ask for it.

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