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Sweden To Review Tax Law Surrounding Mergers

The Swedish Government has announced an "urgent review" of tax regulations after learning that existing rules may lead to the double taxation of some companies that restructure.

The Government said that double taxation may arise when, for example, a foreign subsidiary is merged with its Swedish parent company and the subsidiary operates from then on as a foreign branch of the Swedish company.

"In certain cases, applying the regulations in such a situation can lead to double taxation of the activities that, following the merger, are taxable in Sweden," the Government said in a statement. "The double taxation arises because the value on which taxation in Sweden is based sometimes differs from the value on which the foreign taxation was based. Such double taxation is unintended and can be a disincentive to mergers and divisions that make sense for business reasons."

"For this reason, the Government will undertake an urgent review of the regulations on taxation initiation in connection with mergers and divisions," it said.


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