<h2>How&nbsp;crypto&nbsp;is&nbsp;taxed&nbsp;in&nbsp;Norway</h2><p><br></p><p>In&nbsp;Norway,&nbsp;crypto&nbsp;is&nbsp;treated&nbsp;as&nbsp;an&nbsp;asset,&nbsp;somewhat&nbsp;similar&nbsp;to&nbsp;shares.&nbsp;This&nbsp;means&nbsp;you&nbsp;may&nbsp;have&nbsp;to&nbsp;pay&nbsp;tax&nbsp;on&nbsp;gains&nbsp;and&nbsp;wealth&nbsp;tax,&nbsp;and&nbsp;in&nbsp;some&nbsp;cases&nbsp;income&nbsp;tax.</p><h3>Gains,&nbsp;Losses,&nbsp;and&nbsp;Realization</h3><p>You&nbsp;pay&nbsp;tax&nbsp;when&nbsp;you&nbsp;have&nbsp;a&nbsp;realization&nbsp;of&nbsp;crypto.&nbsp;This&nbsp;happens,&nbsp;for&nbsp;example,&nbsp;when&nbsp;you:</p><p><br></p><ol><li>sell&nbsp;crypto&nbsp;for&nbsp;NOK</li><li>swap&nbsp;one&nbsp;cryptocurrency&nbsp;for&nbsp;another&nbsp;(e.g.,&nbsp;BTC&nbsp;to&nbsp;ETH)</li><li>pay&nbsp;for&nbsp;goods&nbsp;or&nbsp;services&nbsp;with&nbsp;crypto</li></ol><p><br></p><p>Gains&nbsp;are&nbsp;treated&nbsp;as&nbsp;capital&nbsp;income&nbsp;and&nbsp;taxed&nbsp;at&nbsp;22%.&nbsp;Losses&nbsp;are&nbsp;deductible.&nbsp;Gains/losses&nbsp;are&nbsp;calculated&nbsp;as&nbsp;exit&nbsp;value&nbsp;(what&nbsp;you&nbsp;receive)&nbsp;minus&nbsp;entry&nbsp;value&nbsp;(what&nbsp;you&nbsp;paid),&nbsp;adjusted&nbsp;for&nbsp;fees.&nbsp;If&nbsp;you&nbsp;bought&nbsp;the&nbsp;same&nbsp;coin&nbsp;multiple&nbsp;times,&nbsp;you&nbsp;can&nbsp;use&nbsp;FIFO,&nbsp;LIFO,&nbsp;or&nbsp;HIFO&nbsp;to&nbsp;determine&nbsp;which&nbsp;“coins”&nbsp;you&nbsp;are&nbsp;selling.</p><p><br></p><p>Buying&nbsp;crypto&nbsp;in&nbsp;itself&nbsp;does&nbsp;not&nbsp;trigger&nbsp;tax,&nbsp;but&nbsp;you&nbsp;should&nbsp;save&nbsp;documentation&nbsp;showing&nbsp;the&nbsp;price&nbsp;in&nbsp;NOK&nbsp;and&nbsp;any&nbsp;fees.&nbsp;The&nbsp;Norwegian&nbsp;Tax&nbsp;Administration&nbsp;explains&nbsp;the&nbsp;main&nbsp;rules&nbsp;for&nbsp;virtual&nbsp;currency&nbsp;on&nbsp;<u>its&nbsp;website</u>.&nbsp;Transfers&nbsp;between&nbsp;your&nbsp;own&nbsp;wallets&nbsp;are&nbsp;not&nbsp;taxable.</p><h3>Wealth&nbsp;Tax&nbsp;on&nbsp;Crypto</h3><p>Crypto&nbsp;is&nbsp;part&nbsp;of&nbsp;your&nbsp;net&nbsp;wealth&nbsp;and&nbsp;must&nbsp;be&nbsp;reported&nbsp;in&nbsp;your&nbsp;tax&nbsp;return&nbsp;at&nbsp;market&nbsp;value&nbsp;in&nbsp;NOK&nbsp;as&nbsp;of&nbsp;1&nbsp;January&nbsp;in&nbsp;the&nbsp;year&nbsp;after&nbsp;the&nbsp;income&nbsp;year.&nbsp;If&nbsp;your&nbsp;net&nbsp;wealth&nbsp;(all&nbsp;assets&nbsp;minus&nbsp;debt)&nbsp;exceeds&nbsp;the&nbsp;set&nbsp;thresholds,&nbsp;you&nbsp;must&nbsp;pay&nbsp;wealth&nbsp;tax&nbsp;according&nbsp;to&nbsp;the&nbsp;rates&nbsp;from&nbsp;the&nbsp;Norwegian&nbsp;Tax&nbsp;Administration.</p><h3>Staking,&nbsp;Yield,&nbsp;and&nbsp;Other&nbsp;Returns</h3><p>If&nbsp;you&nbsp;receive&nbsp;crypto&nbsp;through&nbsp;staking,&nbsp;lending,&nbsp;or&nbsp;“yield,”&nbsp;this&nbsp;is&nbsp;treated&nbsp;as&nbsp;income&nbsp;when&nbsp;you&nbsp;receive&nbsp;it.&nbsp;The&nbsp;NOK&nbsp;value&nbsp;at&nbsp;the&nbsp;time&nbsp;of&nbsp;receipt&nbsp;is&nbsp;taxable&nbsp;capital&nbsp;income&nbsp;(22%)&nbsp;and&nbsp;at&nbsp;the&nbsp;same&nbsp;time&nbsp;becomes&nbsp;the&nbsp;new&nbsp;entry&nbsp;value&nbsp;for&nbsp;the&nbsp;coins&nbsp;you&nbsp;receive.</p><h2>Declaring&nbsp;crypto&nbsp;in&nbsp;your&nbsp;Norwegian&nbsp;tax&nbsp;return</h2><p>When&nbsp;you&nbsp;submit&nbsp;your&nbsp;tax&nbsp;return,&nbsp;you&nbsp;must&nbsp;enter&nbsp;your&nbsp;crypto&nbsp;gains&nbsp;and&nbsp;losses&nbsp;yourself.&nbsp;They&nbsp;usually&nbsp;do&nbsp;not&nbsp;appear&nbsp;automatically.</p><h3>Where&nbsp;do&nbsp;you&nbsp;find&nbsp;crypto&nbsp;in&nbsp;the&nbsp;tax&nbsp;return?</h3><p>Log&nbsp;in&nbsp;to&nbsp;your&nbsp;tax&nbsp;return&nbsp;at&nbsp;<u>Skatteetaten</u>.&nbsp;Go&nbsp;to:</p><p><br></p><ol><li>Finance&nbsp;→&nbsp;Virtual&nbsp;assets/cryptocurrency</li></ol><p><br></p><p>Here&nbsp;you&nbsp;can&nbsp;either&nbsp;register&nbsp;each&nbsp;individual&nbsp;coin&nbsp;separately,&nbsp;or&nbsp;enter&nbsp;total&nbsp;figures&nbsp;and&nbsp;upload&nbsp;an&nbsp;attachment&nbsp;with&nbsp;the&nbsp;details&nbsp;for&nbsp;each&nbsp;transaction&nbsp;or&nbsp;each&nbsp;coin.&nbsp;Each&nbsp;field&nbsp;includes&nbsp;help&nbsp;text&nbsp;that&nbsp;explains&nbsp;what&nbsp;you&nbsp;need&nbsp;to&nbsp;fill&nbsp;in.</p><h3>Change&nbsp;or&nbsp;correct&nbsp;previous&nbsp;years</h3><p>Realized&nbsp;this&nbsp;year&nbsp;that&nbsp;you&nbsp;forgot&nbsp;to&nbsp;report&nbsp;crypto&nbsp;in&nbsp;an&nbsp;earlier&nbsp;year?&nbsp;You&nbsp;can&nbsp;go&nbsp;to&nbsp;previous&nbsp;years’&nbsp;tax&nbsp;returns&nbsp;and&nbsp;submit&nbsp;corrected&nbsp;information,&nbsp;as&nbsp;long&nbsp;as&nbsp;you&nbsp;are&nbsp;still&nbsp;within&nbsp;the&nbsp;deadline&nbsp;for&nbsp;making&nbsp;changes.&nbsp;You&nbsp;can&nbsp;then&nbsp;add&nbsp;missing&nbsp;gains,&nbsp;losses&nbsp;or&nbsp;other&nbsp;crypto&nbsp;income&nbsp;so&nbsp;that&nbsp;everything&nbsp;is&nbsp;reported&nbsp;correctly&nbsp;going&nbsp;forward.</p><h2>How&nbsp;to&nbsp;track&nbsp;LBank&nbsp;transactions&nbsp;for&nbsp;taxes</h2><p>To&nbsp;report&nbsp;crypto&nbsp;correctly&nbsp;on&nbsp;your&nbsp;taxes,&nbsp;you&nbsp;need&nbsp;a&nbsp;complete&nbsp;overview&nbsp;of&nbsp;everything&nbsp;you’ve&nbsp;done&nbsp;on&nbsp;LBank.&nbsp;That&nbsp;means&nbsp;you&nbsp;must&nbsp;export&nbsp;both&nbsp;your&nbsp;trading&nbsp;data&nbsp;and&nbsp;deposits/withdrawals,&nbsp;across&nbsp;spot,&nbsp;margin,&nbsp;and&nbsp;futures&nbsp;(if&nbsp;you’ve&nbsp;used&nbsp;them).&nbsp;If&nbsp;anything&nbsp;is&nbsp;missing,&nbsp;your&nbsp;gains&nbsp;and&nbsp;losses&nbsp;may&nbsp;be&nbsp;calculated&nbsp;incorrectly,&nbsp;which&nbsp;can&nbsp;cause&nbsp;problems&nbsp;later.</p><h3>Step&nbsp;1:&nbsp;Download&nbsp;your&nbsp;spot&nbsp;history&nbsp;(Order&nbsp;Center)</h3><p>This&nbsp;is&nbsp;where&nbsp;you’ll&nbsp;find&nbsp;your&nbsp;actual&nbsp;buys&nbsp;and&nbsp;sells.</p><p><br></p><ol><li>Log&nbsp;in&nbsp;to&nbsp;your&nbsp;LBank&nbsp;account.</li><li>Go&nbsp;to&nbsp;Trade&nbsp;and&nbsp;click&nbsp;Spot.</li><li>In&nbsp;the&nbsp;Spot&nbsp;view,&nbsp;click&nbsp;Order&nbsp;Center&nbsp;(the&nbsp;clock&nbsp;icon).</li><li>Go&nbsp;to&nbsp;Transaction&nbsp;History&nbsp;and&nbsp;click&nbsp;Export&nbsp;trade&nbsp;record.</li><li>Select&nbsp;a&nbsp;date&nbsp;range&nbsp;that&nbsp;covers&nbsp;your&nbsp;entire&nbsp;trading&nbsp;period.</li><li>Make&nbsp;sure&nbsp;all&nbsp;trading&nbsp;pairs&nbsp;are&nbsp;selected.</li><li>Click&nbsp;Generate&nbsp;Now.</li><li>When&nbsp;the&nbsp;status&nbsp;shows&nbsp;Generated,&nbsp;click&nbsp;Download.</li></ol><p><br></p><p>This&nbsp;file&nbsp;is&nbsp;needed&nbsp;to&nbsp;calculate&nbsp;your&nbsp;gains&nbsp;and&nbsp;losses&nbsp;from&nbsp;spot&nbsp;trading.</p><h3>Step&nbsp;2:&nbsp;Download&nbsp;your&nbsp;funding&nbsp;history</h3><p>Your&nbsp;trading&nbsp;history&nbsp;alone&nbsp;is&nbsp;not&nbsp;enough.&nbsp;You&nbsp;also&nbsp;need&nbsp;to&nbsp;include&nbsp;deposits,&nbsp;withdrawals,&nbsp;internal&nbsp;transfers,&nbsp;and&nbsp;similar&nbsp;movements.</p><p><br></p><ol><li>While&nbsp;still&nbsp;logged&nbsp;in&nbsp;to&nbsp;LBank,&nbsp;use&nbsp;the&nbsp;same&nbsp;top&nbsp;menu&nbsp;you&nbsp;used&nbsp;to&nbsp;access&nbsp;Order&nbsp;Center.</li><li>Select&nbsp;Funding&nbsp;History.</li><li>Go&nbsp;to&nbsp;the&nbsp;Spot&nbsp;History&nbsp;tab.</li><li>Set&nbsp;the&nbsp;date&nbsp;range&nbsp;to&nbsp;cover&nbsp;all&nbsp;transactions&nbsp;you’ve&nbsp;had.</li><li>Under&nbsp;Type&nbsp;/&nbsp;Bill&nbsp;Type,&nbsp;select&nbsp;All.</li><li>Click&nbsp;Download.</li><li>Repeat&nbsp;the&nbsp;same&nbsp;process&nbsp;for&nbsp;Margin&nbsp;History&nbsp;and&nbsp;Futures&nbsp;History&nbsp;if&nbsp;you&nbsp;have&nbsp;used&nbsp;these&nbsp;products.</li></ol><p><br></p><p>Once&nbsp;you’ve&nbsp;downloaded&nbsp;both&nbsp;your&nbsp;spot&nbsp;trades&nbsp;and&nbsp;funding&nbsp;history&nbsp;(spot,&nbsp;margin,&nbsp;and&nbsp;futures),&nbsp;you&nbsp;have&nbsp;a&nbsp;solid&nbsp;foundation&nbsp;for&nbsp;calculating&nbsp;tax&nbsp;on&nbsp;your&nbsp;LBank&nbsp;activity.</p><h3>Using&nbsp;your&nbsp;transaction&nbsp;data&nbsp;to&nbsp;file&nbsp;taxes</h3><p>Once&nbsp;you’ve&nbsp;downloaded&nbsp;your&nbsp;files&nbsp;from&nbsp;LBank,&nbsp;you&nbsp;can&nbsp;use&nbsp;them&nbsp;to&nbsp;calculate&nbsp;how&nbsp;much&nbsp;tax&nbsp;you&nbsp;owe&nbsp;with&nbsp;a&nbsp;<a href="https://divly.com/no" rel="noopener noreferrer" target="_blank">crypto&nbsp;tax&nbsp;calculator&nbsp;made&nbsp;for&nbsp;Norway</a>.</p><p><br></p><p>A&nbsp;tax&nbsp;calculator&nbsp;helps&nbsp;you&nbsp;to:</p><p><br></p><ol><li>Easily&nbsp;import&nbsp;your&nbsp;data&nbsp;from&nbsp;LBank</li><li>Calculate&nbsp;the&nbsp;income&nbsp;and&nbsp;expenses&nbsp;you&nbsp;must&nbsp;report&nbsp;to&nbsp;Skatteetaten</li><li>Generate&nbsp;a&nbsp;tax&nbsp;report&nbsp;that&nbsp;includes&nbsp;everything&nbsp;you&nbsp;need&nbsp;to&nbsp;report&nbsp;your&nbsp;crypto&nbsp;correctly</li></ol><p><br></p><p>Like&nbsp;this&nbsp;you&nbsp;can&nbsp;keep&nbsp;track&nbsp;of&nbsp;all&nbsp;your&nbsp;transactions&nbsp;and&nbsp;save&nbsp;time&nbsp;when&nbsp;reporting&nbsp;tax&nbsp;on&nbsp;the&nbsp;cryptocurrency&nbsp;you’ve&nbsp;traded&nbsp;on&nbsp;LBank.</p>

This article explains how crypto is taxed in Norway, covering gains, losses, wealth tax, staking income, and how to export LBank transaction data to calculate and file crypto taxes correctly.

Taxation on Crypto Assets in Norway

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