SCA tax planned for billions – Aftonbladet

The paper manufacturer SCA has sold out its internal bank in the Netherlands to themselves for billions.

Through a branch in Sweden has made great interest deductions of almost 9 billion for this, reveals SVT.

tax Agency believes that it concerns a tax schemes.

According to SVT information to the paper manufacturer SCA sold its own internal company to themselves. The deal should be completed in 2004 and, according to SVT is no trace of the transaction, SCA’s annual report, despite the fact that the deal is the largest in its history.

A few weeks ago, the Administrative Court in Stockholm that SCA must pay over a billion in fines and taxes, writes SVT.

will pay 928 million in taxes

After the purchase was conducted Holland SCA Treasury as the owner of the company. To finance the internal purchase SCA took large loans and paying interest to themselves.

Through a branch started up by the Dutch company in Stockholm drew to interest rates for the purchase.

– It is a form of tax schemes to avoid paying tax in Sweden, says Tomas Algotsson, who is head of the legal department at the Swedish tax Agency, to SVT.

by going through the accounts of SCA Treasury from 2004 to 2013, SVT has been seen that it is about interest deductions of almost 9 billion. This is what we learned from the Stockholm branch.

Tax Board refused deduction of 3.3 billion in December 2014 because they could not go back more than five years at a time. The authority also decided that the company would pay 928 million extra in taxes. In addition, SCA is an extra tax toppings 186 million to be made false statements to the Tax Agency.

Critical to SCA’s actions

SCA appealed the decision, but the Administrative Court gave the Swedish Tax law in March, writes SVT. Shareholders’ Association is critical of what happened.

– It’s a design that suggests that the only reason is to minimize taxes incorrectly, which the tax office now has intervened with, say Shareholders Association spokesman Albin Rännar, SVT .

SCA writes in a statement on its website that it follows Swedish law.

“the dispute mentioned in SVT’s story comes to an internal reorganization in 2004, where SCA gathered his treasury to Sweden. The internal reorganization was carried out only after the Tax Board had approved the deal in an advance ruling. Tax Agency has subsequently changed its view on this issue and the proceedings are currently under way. “