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Securitas pays no corporation taxes for over a decade in Sweden as the government still weak in making a strong statement

Monday, 19 March 2012
Following our continues probe into Swedish companies and their responsibility in paying taxes in Sweden, it turns out that for over a decade, the security company, Securitas has been paying absolutely no income tax in Sweden.

Based on the finding from the Swedish television news investigative program Rapport, which we drew from yesterday, it shows that among the 20 largest colossal companies examined, a closer look was taken at Securitas today. It showed that the company had written the payment of taxes to the Swedish treasury out of its books.

Security Company, Securitas places great emphasis on corporate social responsibility and in its annual report it indicates that it leads on efforts to improve the society. The company provides support for a street newspaper in Gothenburg, Children Cancer Foundation, Swedish narcotics Association and UNICEF- mentioned as its work in the community.

“This has become more important. It is a way of being a reliable supplier and it will then create a link to the brand,” says Securitas CEO Alf Göransson. The brand for us stands to take responsibility both in terms of business ethics, environmental and social responsibility.”

More importantly, outside of Sweden, many of Securitas clients are multinational companies that have high standards. As such they would not want to deal with suppliers which play with taxes according to the company boss. But the question is do you pay taxes?

"Social responsibility is important," he said. Tax fiddling is something that Securitas does not want to be associated with and social responsibility is important. But how is it in Sweden? How much does Securitas pay in corporation tax?
Answer: 26.3 Percent,” says Alf Göransson.

Question: How much money is that involved?
Answer: ???.” Alf Göransson did not know! It should otherwise be pretty easy to remember. For Securitas has not been able to pays corporation tax in Sweden for many years.

The company has not paid anything or very little in corporate tax for ten years.
“It's because we have losses in Sweden that we can present in our declaration,” says Alf Göransson. There is nothing mysterious about it.

To the question if it is not surprising that Securitas pays zero in taxes, he answers:
“We declare that we do and we have the loss carried forwards”.

How can a company that for years has made money in Sweden will turn and present losses? This is a company that works on various government contracts in Sweden and has paid the CEO  Alf Göransson huge salaried and bonuses and then he turns and say his company has made looses.

Securitas has become good at finding loopholes in the law. In December 1997, Securitas then president told similar story in the report of a loophole that is used in tax planning and where for two years got away Skr90 million in taxes.

So it is a long tradition of tax planning in Securitas. Swedish television has asked the company to when they last paid a tax in Sweden but has received no reply.

The corporate tax rate in Sweden attracts over Skr100 billion but much of it is dodged.
“We follow the rules that apply in Sweden,” says Alf Göransson. And our declarations are approved by the Swedish tax authority.

In reacting to the issue, Swedish Finance Minister Anders Borg was on TV today calling on that all companies must pay taxes. The minister weakly said that “I think companies should pay tax. It is important that all are involved and contribute to the costs we have in society.

Green Party spokesperson, Gustav Fridolin, requires a comprehensive tax overhaul and Leif Jakobsson, Vice Chairman of the Parliamentary Committee on Taxation said that those who are active in Sweden should "also do the right thing."
By Team

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