We expect high inflow of accounts in the months to come, as the government has decided that so far, 2017 will be a transition year in which the transfer of shares and equity funds into a share savings account will not trigger tax. The tax rules that apply to the share savings accounts are particularly favourable. Those who place their savings on a share savings account do not have to pay taxes when selling shares and equity funds with a profit, as long as the profit is retained within the share savings account. Withdrawal of cash from the share savings account can be made up to the amount that is deposited – and completely tax-free! Taxes must only be paid when the amount withdrawn is higher than the amount deposited.
VPS has developed a dedicated share savings account branded ASK. This account is offered to the account operators. Our share savings account solution includes account opening, account management, transactions and tax reporting. Investors may operate the share savings account via our self-service solution VPS Client Services.
If you are an investor and want to know more about the share savings account, we have more information here (in Norwegian only).
Banks and investment firms wishing to offer VPS ‘share savings account will find more information here (in Norwegian only).
We also have a solution for fund managers and distributors (in Norwegian only).