Norway’s Ministry of Finance has launched a public consultation on the proposed new tax measures to support mutual (investment) funds.

The new tax regulations aim to eliminate double taxation and offer Norwegian funds a more favourable framework. Additionally, they will minimise opportunities for unintended adjustments.

This includes the following measures:

  • Offering a tax exemption on fund interest income to prevent double taxation, which currently occurs at both the fund and unit holder levels;
  • The Tax Act includes a special provision that exempts funds from tax on profits earned from selling shares in companies based outside the European Economic Area (EEA). Similarly, loss carryforwards are deducted in the same way. This exemption now applies to dividends from companies based outside the EEA and to financial instruments linked to shares as the underlying object.
  • The exemption shall not apply to profits on and dividends from shares, etc., in companies in low-tax countries.

The public consultation on the proposed tax measures will conclude on 30 April 2025.