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‘Dollar’ millionaires hit record high in Sweden

The number of Swedish “dollar” millionaires reached a staggering 60,900 last year, signifying an increase in Sweden by 26 percent, according to the annual World Wealth Report, carried out by companies Cap Gemini and Merrill Lynch.

Published: 23 June 2011 14:03 CEST

‘Dollar’ millionaires hit record high in Sweden

The figure places Sweden in fifth position on the world list of countries with a growing community of dollar millionaires.

At the top of the list is Hong Kong, followed by Vietnam and Poland. In Sweden the growth is explained to be due to positive market developments, the increase in the country’s GNP, and an increase in public saving.

The number of dollar millionaires is at a record high worldwide, according to the report, which listed 10.9 million people globally boasting wealth worth more than one million US dollars.

The last record was from 2007 when the figure was 10.1 million.

According to the report, the US, Japan and Germany are still home to the highest number of wealthy people.

Although women and younger people are making great strides among the rich, 73 percent of the world’s dollar millionaires (83 percent in Europe) are still men.

The majority is between 46 and 65 years of age.

To be called a dollar millionaire a person has to own the equivalent of a million dollar in investable funds, excluding the value of property and collectibles.

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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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