1. The Global Wealth Tax (Formuesskatt)
Norway is one of the few countries that taxes your Net Wealth annually. This applies to assets worldwide, including Indian property, gold, and bank deposits.
Indian Asset Calculator
Estimated Annual Wealth Tax
Enter values to see impact.
2. Income Stream Matrix
NRE Interest
🏦Norway: Taxable (Kapitalinntekt) @ 22%.
India: Tax Free.
Indian Rental
🏠Status: Taxable in both countries.
Norway Tax (22%) - India Tax (Credit) = Net Tax Payable.
Norwegian Salary
⛷️Norway: Progressive Tax (up to ~47%).
India: Exempt.
3. The Exit Tax Trap (Utflyttingsskatt)
Moving back to India? Read this first.
If you cease tax residency in Norway, you are taxed on Unrealized Gains on shares and funds (including Indian mutual funds held during stay).
The Threshold
If total unrealized gain > NOK 500,000, the tax applies.
Moving to Non-EEA (India)
Unlike moving to the EU/EEA where you can defer payment, moving to India often requires payment or a bank guarantee upon exit (rules tightened significantly recently).
Unrealized Gain Scenario
4. Reporting: Skattemeldingen
Skatteetaten (Norwegian Tax Admin) receives almost no automatic data from India. You must self-report.
- 1 Formuesverdi: Report estimated market value of Indian property/gold/stocks for Wealth Tax.
- 2 Capital Income: Add NRE Interest and Dividends manually.
- 3 Foreign Tax Credit: Fill out form RF-1147 to claim deduction for TDS paid in India.