Swedish Government Publishes Three New Measures Against Aggressive Tax Planning, Tax Evasion And Financial Crime

; posted on
September 6th, 2018

The Swedish government announced three new additional decisions to counter aggressive tax planning, tax evasion, and financial crime.

CFC Rules: Shorten the Whitelist for CFC

The CFC rules are designed to prevent resident taxpayers from artificially deferring otherwise taxable income through the use of controlled foreign corporations (CFC), which do not apply to companies in countries whitelisted in the CFC regulations. The major change is that the whitelist is shortened by removing many countries, including Malta. It is proposed to enter into force on January 1, 2019.

Tax Authorities: Expand Law Enforcement Activities

By expanding the law enforcement activities of the Swedish Tax Agency, the tax authority is given more powers to work on its own initiative against a large number of crimes, such as unauthorized use of identity and counterfeiting, and money laundering violations. The decision also suggested expanding the opportunities to exchange information between the law enforcement activities and other activities to make the law enforcement be carried out in a more efficient manner.

Extension of The Automatic Exchange of Information

Sweden has signed the multilateral agreement on the automatic exchange of information about financial accounts and implemented the global standard for such exchanges into domestic legislation. The amendment of the legislation this time means that Sweden would exchange information about financial accounts with a wider range of countries.

Source: Regeringskansliets (Swedish Government)

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