Sweden’s richest woman loses tax appeal

Antonia Ax:son Johnson, Sweden's richest woman, has lost a long-running battle with the tax authorities, and now faces paying wealth tax on 290 million kronor. The Supreme Administrative Court of Appeal denied her leave to appeal previous decisions from lower courts.

Ax:son Johnson, chairwoman of the Axel Johnson Group, had argued that 290 million kronor placed in company Axcessor in 2000 should not be liable for wealth tax.

The money had been placed in Axcessor as a shareholder contribution, but the tax authority rejected the construction. Ax:son Johnson has appealed the tax authority’s decision in both the district administrative court and the administrative court of appeal.

Wealth tax, which is 1.5 percent on fortunes over 1.5 million kronor, has been abolished by the current government. The abolition takes effect for the 2007 income year.

Antonia Ax:son Johnson was named the richest woman in Sweden by Veckans Affärer magazine, and she was included in Forbes’ list of the 100 most powerful women in the world. Her fortune was estimated as 20 billion kronor by Veckans Affärer.