Item 4.6.2

4.6.2 Other taxable capital abroad

Applies to the income year 2017

Under this item, you must enter capital abroad which is liable for tax in Norway and which is not to be entered under other items. This concerns foreign shares, outstanding claims, bonds and endowment insurance. This applies if the financial products aren't reported to the Norwegian Tax Administration by your manager/bank. Units in foreign mutual funds must be entered under items 4.1.4 (share component) and 4.1.5 (interest component).

Does this item concern me?

The item concerns everyone who has taxable capital abroad in the form of:

  • all foreign shares, including those listed on Oslo Stock Exchange
  • outstanding claims against foreign debtors,
  • bonds,
  • endowment insurance, or
  • other taxable capital.

How do I enter this in my tax return?

You must declare capital abroad under item 4.6.2.
You must enter the capital value under the item. It must be specified in Norwegian kroner.
If you receive dividends from foreign securities, this must be entered under item 3.1.7.

You must enter the following under the item:

  • Name of the company
  • Number of shares
  • Tax value as of 1 January 2018 in Norwegian kroner
  • Tax deducted abroad, converted to Norwegian kroner
  • The exchange rate you use for conversion. Use Norges Bank's bid rate as of 1 January 2018.

If you receive dividends from foreign securities, this must be entered under item 3.1.7.

The value of outstanding claims, mortgage bonds, debt certificates, etc. to foreign debtors must be set to the nominal value of the claim without interest or yields.

You must enter the following under the item:

  • Name of the person/company that has borrowed the money
  • Total amount you have loaned in Norwegian kroner as of 31 December 2017
  • Income on the loan in Norwegian kroner
  • The exchange rate you use for conversion. Use Norges Bank's bid rate as of 1 January 2018.

Foreign bonds must be valued at their listed price in Norwegian kroner. If there is no listed price or the price is unknown, value the bonds at their presumed sales value.

You must enter the following under the item:

  • Name of issuer
  • Number of bonds
  • Total value as of 1 January 2018 in Norwegian kroner
  • Interest in Norwegian kroner
  • Tax deducted abroad, converted to Norwegian kroner
  • The exchange rate you use for conversion. Use Norges Bank's bid rate as of 1 January 2018.

The value of life insurance which has been taken out as endowment insurance is set to the cash surrender value in Norwegian kroner. Use Norges Bank's bid value as of 1 January 2018 when converting to Norwegian kroner. If the insurance policy has no cash surrender value, you won't be taxed on it and you should therefore not declare it.

You must enter the following under the item:

  • Type of capital concerned
  • Purchase sum in Norwegian kroner
  • Capital in Norwegian kroner
  • Exchange rate used for conversion. Use Norges Bank's bid rate as of 1 January 2018.

Documentation requirements

You don't have to send us any documentation for this, but you must be able to present it if we ask to see it.

If you have paid wealth tax on the capital abroad, you can claim a deduction from your Norwegian wealth tax. You tick the box for “Yes” for credit deduction under item 1.5.6. Complete and submit form RF-1147E Deduction for tax paid abroad by a person - credit deduction together with your tax return. If you submit electronically, this form will become available when you answer "Yes" under the item.

If you're claiming a credit deduction, you must document tax which has been assessed and paid in the other country if we ask you to.

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