Swedish Pension boss caught in ‘tax management’ dismissed


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Friday, 13 May 2011
AMF Pension's chairman Bertil Villard whom we reported yesterday about his tax ‘management’ imbroglio has thrown the towel and left his position as chairman of the company.
The dropout came in since it was revealed that he engaged in tax planning or to put it plain, he transferred is gains from his operation in Sweden to a low tax regime in Peru.

These are powerful people in Sweden who make the laws and supposed to stand by it as role models in the Swedish corporate world. But their actions just provide us with more doubt as to how the system here really works.

It is also worrying why labour union, LO, which part owns this AMF pension did not know that Villard had done anything such thing. Because according to Villard his bosses knew that he had carried out tax planning and still went on to give him his job. So who is fooling who?

He said in an email to radio Sweden that the reaction of the Swedish media has made the owners of his company, AMF pension to have lost confidence and trust in him.

His defection would, according to radio Sweden have been driven by the fact that when it was revealed that Villard engaged in tax planning, the various owners of AMF pension reacted violently.

“You can have views on whether this is (tax) avoidance or not. But it is clear that the owners knew what I had done when I got the job. Yet they choose now to keep me out. Such owners I do not want my work for, "said Bertil Villard.

Known as tax planning, apparently to make it remain subtle, Villard moved profits or some Skr23 million to companies in Peru in which corporate taxes there is 4 percent, such need not be illegal even if the Swedish tax authority accused him of tax evasion.

But according to LO he has break AMF pension’s own ethical guidelines.
“My perception is that Bertil Villard gone against our ethical guidelines. It is of course important for his confidence, "said LO's vice-president Per Bardh to Swedish news agency TT on Thursday.

Bertil Villard chooses also to leave Lernia, another company where he has a position.
“In connection with that I have chosen to leave the chair of AMF I choose also to declines from the public duty of the Board of Lernia.
By Team

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