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TAX HAVEN

Sweden steps up tax haven chase

Swedes with accounts in banks on the British islands of Jersey and Guernsey may soon want to look for other tax havens.

Published: 4 August 2008 12:07 CEST

In an effort to step up its hunt for missing tax revenues, the Swedish Tax Authority (Skatteverket) is close to inking agreements with the two Channel Islands that would allow for increased information exchange, reports Sveriges Radio.

At present, the two islands only give out information in cases involving police or suspicions of major crimes.

But starting in October, Sweden’s tax authority, along with those from Denmark, Norway, and Finland, will find itself will be allowed greater access to information about accounts held in Jersey and Guernsey.

The agreement comes following international pressure in recent years.

Colin Powell, head of Jersey’s financial authority, wants the island to be seen as a respectable financial center which offers little or no tax.

“Jersey’s future rests in following international standards in this area,” he told Sveriges Radio.

The Swedish state estimates it loses 46 billion kronor ($7.6 billion) in unpaid taxes annually due to income being shielded in accounts held in offshore tax havens.

It remains unclear, however, how much of the missing money may be held on Jersey or Guernsey.

Skatteverket already has an agreement with the Isle of Man, British island which has served as a destination for funds from people hoping to avoid paying taxes in Sweden.

How to avoid falling victim to tax scams in Sweden

Anyone who earned more than 22,208 kronor last year received their tax returns digitally last week, marking the start of tax season.

That also means an expected peak in tax-related scams, Skatteverket warns.

Most of the scams are so-called phishing scams, meaning attempts to steal the victims’ personal information. Fraudsters may for example email a person, pretending to represent Skatteverket, and ask them for, among other things, their banking details.

“We’re seeing these in all channels. They use fake emails, SMS, letters and in some cases even phone calls. It is particularly common in tax declaration times – just when we’re about to send out the tax returns, the e-service opens and it’s possible to declare – but above all when it’s time for tax rebates,” Jan Janowski, a Skatteverket expert, told Swedish news agency TT.

A scam email might for example state that you’re entitled to a tax rebate and that you should click a link to receive it. Don’t click any links, open any attachments or reply to the message. Skatteverket advises that you immediately delete the email or text message.

Another common scam is that you receive a text message claiming to be from Skatteverket, telling you that you owe them money and you need to log in to calculate the amount. The website you’re urged to log in via does not belong to Skatteverket. Don’t click the link.

The agency stresses that it never asks people for their banking details. The exception is that you may be asked for your bank account information if you log into Skatteverket’s website to declare your taxes, but that always first requires you to log into the site.

To receive your tax rebate, you need to inform Skatteverket of your bank account number. You do this not by clicking a link in an email or SMS, but by logging into their website using a digital ID, for example BankID, and submitting your details. Only do this on your own initiative. If someone calls you and asks you to log in with your BankID during the phone call, don’t do it. That’s another common scam.

Skatteverket will also never call you to ask for your bank account or credit card number.

It will be possible to declare your taxes from March 19th. You’ll receive any tax rebate you’re owed by mid-April or early June, depending on when you submit your tax return. These are the dates when fraudsters are likely to attempt the most scams.

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