Sweden criticised for policy on tax havens

The Swedish government is doing too little to stop international tax havens for companies, according to Oxfam, one of the world’s largest aid organisations. Oxfam wants to see Sweden working more actively with Country-by-Country Reporting, CBCR, which forces multinational companies to account for sales, profits and tax according to the countries they are operating in. There is a proposal to enforce this at EU level, however, Sweden has not supported it, says Esme Bekout from Oxfam.

Finance minister Magdalena Andersson points out that international work against tax havens has made huge progress. However it is also about compromise and not pushing so far that countries stop cooperating.

Nordea helps clients with tax havens

Public service broadcaster SVT has gained access to the 11.5 million documents leaked from Panamanian law firm Mossack Fonseca, and found that Nordea, in cooperation with the law firm, offers some of its richest clients the means, via mailboxes in Luxembourg, to hide their wealth in tax havens.

Thorben Sander, CEO of Nordea Luxembourg has confirmed the news in part, but says that the bank changed structure in 2009 and now has few such mailboxes. According to SVT, however, Nordea still has 100 active mailboxes.