Sweden’s Bank Tax Proposal May Be Adjusted Again: Handelsbanken

Sweden’s adjusted proposal for taxation of the country’s banks may collide with double taxation agreements, Handelsbanken says in a note, adding that Swedish lenders should at least be compensated for taxes paid outside of Sweden on their international operations.

• Additional adjustments to the tax proposal are therefore likely, Handelsbanken says
• Says a widening of the tax base to branches outside Sweden, but without changing the increase in the tax revenue, means the banks with large international operations (Swedbank, SEB and Handelsbanken) have to carry a relatively higher tax burden
  • Large regional banks and credit institutions meanwhile carry a relatively lower ...