How are dividends taxed in Norway?

For resident individuals, dividends are taxed under the shareholder model (aksjonærmodellen). The dividend above the shielding deduction is multiplied by an upward-adjustment factor of 1.72 and taxed at the 22% flat rate, producing an effective rate of 37.84% on the taxable portion.

What is the shielding deduction (skjermingsfradrag)?

The shielding deduction is a tax-free allowance equal to a risk-free return on the cost (skjermingsgrunnlag) of your shares. Dividends up to that amount are not taxed, so only the excess is taxed at 37.84%. Unused shielding carries forward to future years on the same shares.

What withholding tax applies to non-residents?

Norway levies a 25% withholding tax on dividends paid to non-resident shareholders. Tax treaties commonly reduce this to 15%, or to 0-5% for qualifying corporate holdings. Set the withholding rate in the calculator to match the relevant treaty.

Why is the effective rate 37.84%?

Norway aligns share income with salary by multiplying the taxable dividend by an oppjusteringsfaktor of 1.72 before applying the 22% flat rate. 0.22 × 1.72 = 0.3784, so the effective rate on the dividend above the shielding deduction is 37.84%.

Does this calculator store my data?

No. All calculations run locally in your browser and nothing is uploaded, so your figures stay private.

Norway Dividend Tax Calculator

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This Norway dividend tax calculator applies the shareholder model (aksjonærmodellen) for residents — taxing the dividend above the shielding deduction at an effective 37.84% — and the flat withholding tax for non-residents.

How it works

For a resident individual:

taxable = max(0, cash dividend − shielding deduction)
tax = taxable × 1.72 × 22%

The shielding deduction (skjermingsfradrag) is a risk-free return allowance on the cost of your shares, so a normal return goes untaxed and only the excess is taxed. The 1.72 upward-adjustment factor lifts the 22% flat rate to an effective 37.84%.

For a non-resident, Norway instead withholds a flat tax on the gross dividend — 25% by default, often reduced by a tax treaty to 15% (or lower for qualifying corporate holders).

Example

A resident receives a 20,000 kr dividend with 1,500 kr of unused shielding. The taxable amount is 18,500 kr, so the tax is 18,500 × 1.72 × 22% = 7,000 kr, an effective 35% across the whole 20,000 kr (37.84% on the taxable slice), leaving 13,000 kr in hand. A non-resident under a 15% treaty rate would simply pay 20,000 × 15% = 3,000 kr.

Notes

This is an estimate for the dividend in isolation. It excludes the wealth tax, any salary that pushes your total tax position, and the detailed calculation of the shielding basis. Treaty rates vary by country and holding type. Confirm with the Norwegian Tax Administration (Skatteetaten).