This guide is for informational purposes only. Reach out to your tax advisor for any consulting or advice.
If you're a tax resident in Norway, you must report both income (distributions and any capital gains) as well wealth (the tax value of units owned) as part of your annual income tax return. As Wise doesn't report tax details directly to Norwegian tax authorities, the relevant tax data won't form part of your pre-completed tax return. The taxation of income will depend on the type of fund that you own and the proportion of equity/fixed income of the fund.
Capital gains (and losses) related to shares don't form part of the business income for a sole trader and is taxed similar to that of an individual.
For more information, see this guidance from the Norwegian tax authority.