How much tax will you have to pay in Norway? - Sale of housing or holiday home abroad
If the conditions for tax-free sales under the Norwegian rules are met, any gain that is made won't be tax liable in Norway. Nor can you claim a deduction for any loss. (In such cases, you won't be entitled to a deduction for any tax you have paid on gains to the country in which the property is situated).
When the conditions for tax exemption aren't met, any taxable gain will normally be taxed as capital income at the rate of 22 percent. Losses will be deducted correspondingly.
If the gain is also taxed abroad, the tax treaties or Norwegian tax rules will ensure that double taxation does not occur.
If you sell your own home or holiday home, the gain won't be taxed as business income.
As regards other types of property (rental housing/cabins, etc.) which are considered to be more of an investment, any gain made on the sale of such property may in some cases be taxed as business income, with a tax rate of up to 50.6 percent.
Whether or not the sales activity is considered to be commercial activity will depend on an overall assessment which among other things takes into account the scope and duration of the activity. It is primarily if you frequently buy and sell property/plots of land that an assessment as to whether or not commercial activity is taking place will become relevant.
Contact us if you're unsure how your gain will be taxed.