Minister threatens to toughen up law

Finance Minister Magdalena Andersson has turned on the financial elite who shop around the world in search of the lowest taxes and is prepared to toughen legislation.

“It is completely unacceptable that people spend so much … time and energy to avoid paying tax,” she says. However, “The problem is that if you are really going to make it difficult to tax plan then you need to go outside the EU and introduce capital restrictions. When companies actively exploit the possibilities, it means tougher legislation makes it more difficult for everyone who runs a company.”

New law to stop tax evaders

SvD reports the government is now proposing that Swedish companies will no longer be permitted to declare their taxes in a single lump sum. From next year large companies should declare how much they pay in each country they operate in.

Furthermore the Swedish Tax Agency (Skatteverket) is to increase the exchange of tax information with other countries’ tax authorities. The purpose is to give Skatteverket more power to tackle tax evasion.

Minister for finance Magdalena Andersson says, “This will be an important tool making it easier for Skatteverket to effectively assess whether companies are paying the correct tax and see whether it is the case that a company is not paying tax in any country.”