Sweden Orders Crypto Miners to Pay $90 million in Unpaid Taxes

Skatteverket, the Swedish tax authority, has conducted an investigation into the operations of 21 cryptocurrency mining companies between 2020 and 2023. The investigation revealed that 18 cryptocurrency mining companies submitted "misleading or incomplete" information in order to enjoy tax benefits. According to the agency, some cryptocurrency companies provided misleading business descriptions in order to avoid paying value-added tax (VAT) on taxable operations. Others found ways to avoid paying taxes on the import of mining equipment or income tax on mining income.
Defaulting cryptocurrency mining companies are required to pay a total of more than 990 million Swedish krona (SEK) ($90 million) to the tax authorities. This includes the total amount of unpaid VAT 932 million Swedish krona ($85.40 million) and about 57.90 million Swedish krona ($5.30 million). While the cryptocurrency mining companies appealed the Swedish Tax Agency's request for $90 million, the Administrative Court upheld the appeals of the two mining companies and rejected the appeals of the remaining companies. "The above amounts have been adjusted according to the judgment."