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Economic crisis in the pornography sector? Swedish Porn King leads league of indebtedness 


 




Monday, 18 July 2011
The Swedish people have a total of Skr89 billion in debts with the bailiff (kronofogden).
Thirteen Swedes have combined tax liabilities of nearly Skr2 billion. The worst on the list is Berth Milton, the leader in the Swedish pornography industry who has amassed a debt to the state of Skr694.7 million.

The Swedish daily, Dagens Nyheter reports that the list of people who have the highest debt (over Skr50 million) in Sweden has been compiled by the debt enforcement authority exclusively for the paper which has shown the extent to which individual Swedish people owe.


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Second place is held by the founder of IT Company, Mandator and its former CEO Lars Pettersson. His tax liability amounts to more than Skr 314 million. Today, Lars Pettersson’s status stands as "migrated" to a particular address in the Bahamas according to information the Swedish Tax authority has on him.

The Swedish tax authority said that they now have better possibilities to trace any assets that the taxpayers own or are hiding abroad. This came after the Swedish government signed a number of accords on information exchanges with various so-called tax havens. This prompted many Swedes in the past months that were hiding their wealth abroad from the eagle eyes of the tax man to start declaring them. The tax authority had said that those who did not declare would be seriously penalised if caught.

“We have received several new contracts with various tax havens which makes it much more difficult to hide assets there,” an official of the Swedish tax authority said to Dagens Nyheter.

Berth Milton, who is the man behind the porn empire, Private Media Group, is reported to have lost a case of appeal to various charges brought to him. Milton in reported to have amass unpaid taxes including a capital gain of over Skr1 billion, which he did after selling his shares in two companies abroad. The tax authorities determined that between 1996 and 1999 he earned Skr1.35 billion in Sweden but Berth Milton claims that he was registered in Spain and that his gained should not be calculated in Sweden.

For Lars Pettersson, it is held that his tax assessment increased after selling shares of this IT Company, Mandator during the IT era heyday through a long series of transactions, which according to Swedish Tax authority was simply to avoid taxes.

Several of those who are on the bailiff’s list have been there for many years. Sometimes more liabilities are added on their already sky-high debts.
By Scancomark.se Team


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