• Sweden's news in English
 

Swedes bring assets home to be taxed

Published: 15 May 2014 10:41 GMT+02:00

Sveriges Television (SVT) reported on Thursday that the number of Swedes who volunteer information about assets abroad has gone up by 21 percent in the first quarter compared to the same period last year.

The biggest sums of money being returned to Sweden come from Switzerland, the Swedish tax agency (Skatteverket) said.

"We have got quite a comprehensive net of information exchange deals with Switzerland, Luxembourg and tonnes of former tax havens," agency spokesman Göran Haglund told SVT. "For example, Swiss banks demand that you show you've paid tax in Sweden, otherwise you can't keep your account." 

Most assets brought back to Sweden came from Switzerland followed by Luxembourg, the US, the Isle of Man, and the UK, according to last year's tally.

In October 2013, Switzerland signed an OECD convention that brought it in line with international standards on sharing information between countries about taxable assets.

"The signing of the convention confirms Switzerland's commitment to the global fight against tax fraud and tax evasion," Switzerland’s Ambassador to the OECD Stefan Flückiger said at the time.

Market experts warned that Africa and Central Asia could become new hide-outs for tax evaders.

In Sweden, the tax agency received notice of 1.5 billion kronor in assets that were being taken home under the revised "self-correction" rules (självrättelse) - in essence a sort of tax amnesty for anyone who wants to register having assets abroad. While the person would have to pay back tax arrears, he or she would not be up-taxed as a penalty for not notifying the Swedish authorities.

The Local/at (news@thelocal.se)

Your comments about this article

Today's headlines
Opinion
'Sweden is ruled by unelected policy plotters'
The Swedish government and parliament buildings. Photo: Ola Ericson/imagebank.sweden.se

'Sweden is ruled by unelected policy plotters'

Sweden has long been seen as the epitome of a healthy democracy. But in this week's debate article, three researchers argue that an increase in unelected behind-the-scenes operators is threatening accountability in the Swedish political sphere. READ  

Spotify chief unveils Sweden innovation bash

Spotify chief unveils Sweden innovation bash

Spotify founder Daniel Ek and Avicii's manager Ash Pournouri are set to launch a major new tech and music event to reflect Stockholm's status as a lucrative hive of start-up activity, Billboard reports. READ  

The Local List
The ultimate guide to Sweden's party leaders
The outgoing leader of Sweden's Christian Democrats, Göran Hägglund, with the new leader, Ebba Busch Thor. Photo: Pontus Lundahl/TT

The ultimate guide to Sweden's party leaders

Two are pregnant, four are under 40 and nearly half are women. As the Christian Democrats elected their first female party head on Saturday, The Local's beginners' guide to Swedish political leaders reveals who has clung on to power and whose heads have rolled in the months since Sweden's general election in September 2014. READ  

Sweden Democrats boot seven in extremism row
From left, Sweden Democrat youth leaders Gustav Kasselstrand and William Hahne on Monday. Photo: Anders Wiklund/TT

Sweden Democrats boot seven in extremism row

Seven people have been expelled from the Sweden Democrats - including the two heads of the nationalist party's youth wing - in a row over far-right extremism, the party announced on Monday afternoon. READ  

Swedish arms giant one of Europe's 'cleanest'
An Air Force pilot uses a simulator to fly a Saab Gripen fighter aircraft at the LAAD Defense and Security International Exhibition in Rio de Janeiro, Brazil, Tuesday, April 14th 2015. Photo: AP/TT

Swedish arms giant one of Europe's 'cleanest'

Swedish defence giant Saab does more than most other European arms companies to tackle corruption but should give staff better access to whistleblowing channels, according to a Transparency International report released on Monday. READ  

Taxman: Cosmetic surgery is not deductible
Winners of the Miss Plastic Hungary beauty pageant. If they lived in Sweden they would not be able to make deductions for breast implants, nose jobs or face lifts. Photo: AP/TT

Taxman: Cosmetic surgery is not deductible

With next Monday the deadline for filing tax returns, Swedes will try to get the taxman to cover the cost of everything from milk to plastic surgery, explains a tax agency worker who has seen it all. READ  

My Swedish Career
Building my Swedish lego dream brick by brick
James Gill in his lego shop. Photo: The Local/Bobbie Carlson

Building my Swedish lego dream brick by brick

James Gill was working as a chef in the UK when he one day decided to combine his two passions in life: Sweden and Lego. The Local's reporter Bobbie Carlson visited his shop in Stockholm - and discovered that there is far more to the famous children's toy than meets the eye. READ  

Head rolls in Sweden’s private jets scandal
Anders Nyrén attends SCA's annual general meeting in Stockholm on April 15th 2015. Photo: Anders Wiklund/TT.

Head rolls in Sweden’s private jets scandal

A major corporate scandal involving the “excessive” use of private jets claimed a fresh victim on Monday as the main owners of investment giant Industrivärden blocked the under-fire CEO Anders Nyrén from taking over as chairman. READ  

US rap mogul Jay Z defends Tidal venture
Jay Z's got 99 problems but Tidal ain't one. Photo: Chris Pizzello/Invision/AP

US rap mogul Jay Z defends Tidal venture

Rapper Jay Z has defended his Tidal streaming service as viable and a boon to artists after a much-criticized start to the revamped company has given its main Swedish rivals at Spotify little cause for concern. READ  

Nepal earthquake
Swedes join earthquake rescue efforts in Nepal
Residents rescue items from the debris of a house damaged in Saturday's earthquake in Nepal. Photo: AP Photo/Bernat Armangue

Swedes join earthquake rescue efforts in Nepal

An expert team from Sweden is set to travel to Nepal on Monday to help with a search and rescue operation following a devastating earthquake which is believed to have claimed 3,200 lives so far. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Gallery
IN PICTURES: Sweden's Princess Leonore meets Pope Francis
VIDEO: How did these Swedish cops become New York heroes?
Business & Money
Five crucial things you need to know before you move to Sweden
Gallery
People-watching: April 25th
National
What's on in Sweden: April 23rd - 30th
Blog updates

24 April

Editor’s blog, April 24th (The Local Sweden) »

"Hi readers, Spring has well and truly arrived, as evidenced by the start of strawberry season. The..." READ »

 

15 April

Gång, timme, tid & dags (The Swedish Teacher) »

"Hej! In this article I will talk about “gång”, “timmar”, “dags” and “tid”, because they all translate..." READ »

 
 
 
Stockholm School of Economics
Sponsored Article
How the Stockholm School of Economics changes expat lives
National
Brits in Sweden face NHS black hole
Swedish Hasbeens
Sponsored Article
Is the world wrong to connect Sweden with sex?
Business & Money
The Swedish regions where you're least likely to stay jobless
Gallery
People-watching: April 22nd
Sport
Sweden's Eriksson joins row over foreign England player quotas
National
MEP says ignoring migrant crisis like 'Sweden's Holocaust appeasement'
Gallery
IN PICTURES: The Swedish mining town that's being moved
National
How much would you pay for first Swedish strawberries of 2015?
Gallery
Property of the week: Kungsholmen, Stockholm
Sponsored Article
Want to study in Sweden? Read why Stockholm is the best choice
Photo: TT
National
Get set for a sunny week in Sweden
Sponsored Article
Does far-north Sweden have to punch above its weight?
National
Refugees in Sweden fear for families lost at sea
National
Syria claims ‘most dangerous’ Isis leaders are Scandinavian
Gallery
People-watching: April 18th
National
Swedish researchers pore over link between coffee and cancer
Features
What you can buy in Sweden for the price of a London shed
National
What's on in Sweden this week
National
Swedes launch first donut into space
Politics
Is Sweden returning to 1990s social democratic welfare politics?
National
Mamma Mia! Abba entertainment venue set to open in Stockholm
Gallery
People-watching: April 15th
National
Why Sweden is top place in the world for expats to raise children
National
Swedish 'submarine' was civilian boat
National
Why has a US town got pulled into a Swedish spelling row?
Gallery
Property of the week: Hovås, Gothenburg
National
What does Zlatan think of his ban?
National
Swedish teenagers help rebuild Breivik massacre island
National
Would you live in a steel box?
National
How an act of kindness by one Syrian immigrant went viral
Gallery
People-watching: April 8th
National
Swedish bids for Billboard fame
National
Swedish monkeys denied Saudi visas
National
Sunny spring weather predicted
Sponsored Article
'Impossible' to run Skanska without Bromma Airport
National
Half of Swedes want begging ban
Gallery
Property of the week: Gotland
National
Why are expats less likely to settle down with Swedes?
Sport
What does Sweden think of Zlatan's recent outburst?
Society
Get to grips with Sweden's most bizarre Easter traditions
Gallery
People-watching: April 1st
National
The Local's best April Fools' gags
Sponsored Article
'Sweden must embrace openness and diversity'
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

3,330
jobs available
PSD Media
PSD Media is marketing company that offers innovative solutions for online retailers. We provide modern solutions that help increase traffic and raise conversion. Visit our site at:
psdmedia.se
?>