Swedish Bitcoin miners under suspicion: $90 million tax evasion
Date: 2024-04-19 Author: Gabriel Deangelo Categories: IN WORLD
The Swedish Tax Service has released the scandalous results of an investigation, during which it revealed evidence of tax evasion on the part of Bitcoin miners. According to preliminary estimates, the evasion amounted to a huge amount - about $90 million.
For a long time, Swedish miners tried to hide or provide distorted information in tax reports, deceiving the tax authorities. However, through enhanced audits and analysis of financial data, the agency identified inconsistencies and violations.
According to the tax service, the detected violations include attempts to evade value added tax (VAT), as well as payments when importing mining equipment. The total amount that miners are required to pay is more than SEK 990 million.
In addition, the tax service found that most mining companies provided incomplete or distorted information in tax reports in order to obtain tax benefits and privileges.
However, despite the violations discovered, some companies attempted to appeal the decision of the tax service. The administrative court that heard the case decided to uphold the appeal of only two firms, rejecting the complaints of the rest.
The scandal is yet another example of growing tensions between cryptocurrency companies and government agencies in various countries. Increased attention from tax and financial regulators highlights the importance of legal compliance and full transparency in the activities of cryptocurrency businesses.
