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It is getting hard and harder for Swedish people to hide their wealth in tax havens

Thursday, 08 March 2012
As we have always reported on this network, the Swedish tax authority will go anywhere and do anything to reclaim unpaid or suspected unpaid tax. This they don’t care whether the affected person or organisation leave the county or not.

This has made it relatively hard for people to ferry wealth their either loots or gains to tax havens recently. And others with wealth there are closely being watched. An instance of this is in a case reported on Wednesday where a man from western Sweden has been indicted for serious accounting and tax offences.

By making use of tax havens the man is accused to have defrauded the state of nearly Skr10 million.
The man has been dealing with the sales of online domain names. So he has been buying and selling Internet addresses, and has been successful for several years. But the money he earned, has not reported it properly, according to prosecutors.

The man is under indictment for running a company registered in the tax haven of Mauritius, but operations have been handled from Sweden hence he should have paid VAT, payroll tax and income tax in the manner as with the Swedish model.

Nearly Skr10 million in total over several years is what the tax authorities claim from the man but  the man has denied the charges.

Anders Berndtson-Sandell who is the prosecutor in the Swedish Economic Crimes Bureau, which indicted the man, believes that reducing bank secrecy and better cooperation between countries has made it easier to access financial crime.

“Swedish Economic Crimes Bureau has both the resources and the legal possibilities to investigate crimes abroad, including in tax havens. This means that these tax shelters have lost some of their importance,” says Anders Berndtson-Sandell.

For the past years, Sweden has been signing various conventions with tax havens so that they could provide information of Swedish people “hiding” money in those tax havens. Also Swedish people have been called by their government to declare their assists hidden abroad and be required to pay a limited fine rather than be caught and be prosecuted.

Could this be a reason why many Swedish people are living the country (…?)
By Scancomark.se Team

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