International reporting (CRS and FATCA)

Norway has entered into agreements with other countries concerning the automatic exchange of information relating to financial accounts. The aim is to ensure the correct taxation of accounts that a taxpayer has outside his or her home country. The agreements mean that Norwegian financial institutions must state where account holders and beneficial owners are resident/domiciled for tax purposes, and report account information to the Norwegian Tax Administration. The Norwegian Tax Administration will then send the account information to the tax authorities in the home country of the account holder/beneficial owner. The taxpayer is entitled to receive a copy of the information that has been sent to the Norwegian Tax Administration.