Swedish Tax Agency recovers approximately $56.5 million in unpaid taxes from 6 crypto mining firms.
55 minutes ago
The Swedish Tax Agency is collecting approximately 540 million Swedish kronor (around $56.5 million) in back taxes and penalties from six cryptocurrency mining companies based in Boden, a northern Swedish city. An investigation found the firms used complex corporate structures to conceal their actual crypto mining operations, in order to access tax breaks originally reserved for general data processing centers. Patrik Lillqvist, head of the tax agency’s intelligence division, stated that the firms employed special arrangements to hide their mining activities to secure tax benefits they were not eligible for. The action is part of the agency’s industry audit running from 2024 to 2026; nationwide, nine crypto firms are being pursued for over $50 million in unpaid taxes and penalties, with the six Boden-based companies making up the vast majority. Some of the involved firms have filed appeals, but the Swedish Administrative Court and Court of Appeal have previously upheld the tax authority’s determinations. Notably, Bikupan Datacenter has entered financial restructuring due to its inability to meet tax obligations, and is now appealing the case to the Swedish Supreme Administrative Court.
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