Where can I find out if I've inherited listed shares?

You can check the inheritance declaration if the testator died in 2013 or earlier. If you received an advance on inheritance in 2013 or earlier, this should be listed on the gift notification sent to the tax office. 

How is the input value of listed shares determined?

In the case of inheritance and gifts, the heir or recipient of the gift also inherits the testator/donor's input value, etc. (continuity principle). If the death occurred or the gift was given in 2013 or earlier, the input value and the basis for the deductible risk-free return cannot be set any higher than the value that was used as a basis for calculating the inheritance tax, see the former section 9-7, subsection 4, of the Taxation Act. 

From and including 2014, inheritance tax is no longer levied, and the input value must now be transferred fully in line with the continuity principle. 

In principle, continuity also applies to gift sales. However, the transfer of shares through gift sales is considered to be realisation, and in principle, a gain and loss settlement will be established in the normal manner based on the actual remuneration. 

If the remuneration is less than the input value, a deduction will be made for the loss in cases where the sale value is also less than the input value. In such cases, the loss will amount to the difference between the sale value and the input value. No deduction will be made for losses due to the element of gifting.

Where can I find out if I've inherited unlisted shares?

You can check the inheritance declaration if the testator died in 2013 or earlier. If you received an advance on inheritance in 2013 or earlier, this should be listed on the gift notification sent to the tax office.

How is the input value of unlisted shares determined?

In the case of inheritance and gifts, the heir or recipient of the gift also inherits the testator/donor's input value, etc. (continuity principle). If the death occurred or the gift was given in 2013 or earlier, the input value and the basis for the deductible risk-free return cannot be set any higher than the value that was used as a basis for calculating the inheritance tax, see the former section 9-7, subsection 4, of the Taxation Act.

From and including 2014, inheritance tax is no longer levied, and the input value must now be transferred fully in line with the continuity principle.

Please note that the testator’s date of death is decisive regarding whether you have to pay inheritance tax according to the old rules. If the testator died before 2014 and you receive your inheritance later, you will have to pay inheritance tax. In such cases, your input value must be the inheritance tax basis or the testator’s input value, whichever is the lowest.

In the case of unlisted shares, a share must be valued at 100 percent of the share's proportional share of the company’s tax value of capital as of 1 January the year the ownership changes for the purpose of calculating inheritance tax. The recipient may alternatively decide to have capital values (upwardly limited to NOK 10 million) valued at 60 percent of the company’s taxable value (inheritance tax basis of NOK 6 million). Any excess value will be included in the inheritance tax basis at 100 percent of the taxable value.

For shares inherited/received up to and including 2005, the sale value at the time the shares became available to you will be used as a basis. The value was not to be set any higher than the gross value used as a basis for calculating the inheritance tax, see the former section 9-7. Heirs or gift recipients could choose whether the contribution basis be set to 100 percent or 30 percent of the share's proportion of the company’s taxable value. Your input value for the share will be stated in the form Shareholder's tax report RF-1088.