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Sweden to get tougher on money sent to EU-blacklisted tax havens

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Sweden to get tougher on money sent to EU-blacklisted tax havens
Sweden's Finance Minister Magdalena Andersson. Photo: Christine Olsson/TT
08:52 CET+01:00
Sweden's Tax Agency (Skatteverket) has been tasked by the government with putting greater scrutiny on transactions to countries on the European Union's tax haven blacklist.

It is part of EU led countermeasures against tax evasion. In December 2017, the EU compiled a list of 17 countries not considered to be cooperative when it comes to tax (though eight countries including Panama have since been removed from the list).

From the Swedish side, money sent to those tax havens will be treated with more scrutiny from now on.

"We've given Skatteverket resources to work against international tax evasion, but what we're doing now is saying that they should specifically increase screening of the countries that are on the list. That means that if you have transactions with any of the countries there's a risk you will be caught in a tax check,” Sweden's Finance Minister Magdalena Andersson told news agency TT.

READ ALSO: Sweden's government wants new rules to fight tax evasion

The goal is to put pressure on tax havens to fall in line:

"It appears that countries don't want to be on the black list, so there are several who have already taken action at a high political level to change their tax laws. And it's then important that other countries don't want to be on the list and we take action against them."

The Swedish government has previously launched a 12-point programme to counteract tax evasion, giving Skatteverket more resources in the area.

"Working against tax evasion is extremely important, we have to take in money for schools, hospitals and care for the elderly, as well as maintaining the legitimacy of the system and protecting the companies who do not turn to tax evasion," Finance Minister Andersson concluded.

READ ALSO: Sweden hits out at tax avoidance exposed in Paradise Papers leak

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