Sweden joins collective engagement to counteract tax evasion and tax crime

Today, unscrupulous actors, including criminals, hide assets by buying property abroad. At the same time, the Swedish Tax Agency does not have the information needed to identify such assets, which enables unscrupulous actors to commit tax evasion and tax crime.

The Government has therefore reached agreement with a number of countries on a collective engagement that will see tax authorities share information, making it easier to stop such tax offences. The agreement means that other countries will be able to provide information about whether persons residing in Sweden own or receive income from property in those countries and, if so, how much money is involved. The Swedish Tax Agency will then be able to use this information in its checks. 

In practice, the collective engagement means that Sweden and a large number of other countries will work to implement the OECD’s Standard for Reporting and Exchange of Information for Taxation Purposes in Relation to Real Estate (IPI MCAA).

Within the EU, there is already a directive for the exchange of information on immovable property (DAC1). In order for Sweden to have access to as much useful information as possible, it is important that IPI MCAA has as wide a global spread as possible.