The Swedish Tax Agency found several crypto firms provided misleading business descriptions to avoid paying taxes between 2020 and 2023.
Swedish crypto miners owe over $90 million in taxes after government investigations revealed four years of misappropriations.
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.