- Crypto miners in Sweden owe over $90M in taxes after government investigations revealed four years of misappropriations.
- Jūsu darbs IR Klientu apkalpošana Zviedrijas nodokļu aģentūra found several crypto firms provided misleading business descriptions to avoid paying taxes between 2020 and 2023.
The Swedish Tax Agency —Skatteverket — investigated the operations of 21 crypto-mining firms between 2020 and 2023.
The investigation revealed that 18 crypto-mining firms filed “misleading or incomplete” information to benefit from tax incentives.
According to the agency, some crypto firms provided misleading business descriptions to avoid paying value-added tax (VAT) on taxable operations. Others found ways to avoid paying import taxes on mining equipment or income tax on mining revenue.
A rough translation of the Swedish Tax Agency’s statement read:
See Also: $11M Seized from Top British-Indian Businessman in Multi-Million Dollar Bitcoin Scam
“The described approach leads to tax disappearing from the country in the form of incorrect payments of input VAT, unpaid output VAT and unreported crypto assets.”
The crypto mining firms are required to pay the tax authorities over 990 million Swedish krona ($90 million) in total.
This includes unpaid total VAT of 932 million krona ($85.4 million) and tax surcharges of approximately 57.9 million krona ($5.3 million).
While the crypto mining firms appealed against the $90 million demand from the Swedish Tax Agency, the administrative court upheld the appeals of two mining firms and rejected the rest. “The amounts above have been adjusted with regard to the verdicts.”
In November 2023, crypto mining firm Hive Digital Technologies acquired a commercial property and a data center in Boden, Sweden. At the time, Johanna Thornblad, Hive’s country president for Sweden, said:
"Jaunais datu centrs ļaus HIVE palielināt savu reģionālo ietekmi, vienlaikus apliecinot savu apņemšanos pievērsties ESG, ilgtspējīgai praksei, atbildībai par vidi un energoefektivitātei ar savu jaunāko "zaļo" ar enerģiju darbināmo datu centru."
The company confirmed that the property will also house its incoming generation of ASIC servers and increase its Bitcoin (BTC) production.
Hive owns and operates data center facilities in Canada, Sweden, and Iceland, and it promotes the use of green energy to mine digital assets such as Bitcoin on the cloud.
Atruna: sniegtā informācija nav tirdzniecības padoms. Bitcoinworld.co.in neuzņemas atbildību par jebkādiem ieguldījumiem, kas veikti, pamatojoties uz šajā lapā sniegto informāciju. Pirms jebkādu ieguldījumu lēmumu pieņemšanas mēs ļoti iesakām veikt neatkarīgu izpēti un/vai konsultēties ar kvalificētu speciālistu.
#Binance #RAKSTI2PEŅA
Source: https://bitcoinworld.co.in/sweden-demands-90m-in-outstanding-taxes-from-crypto-miners/