Sweden Orders Six Crypto Firms to Pay $56M in Additional Taxes Amid Tax Avoidance Allegations

Sweden's tax authority has ordered six crypto companies operating in Boden to pay nearly $56 million in additional taxes. The firms, which have been found to have used business structures to obtain tax benefits they were not entitled to, will need to settle their outstanding tax liabilities.

The Swedish Tax Agency said that some of the companies had concealed their crypto mining activity to claim tax advantages for which they did not qualify. This is part of a larger review of the crypto industry in Sweden between 2024 and 2026, during which nine companies have received tax adjustments totaling over half a billion kronor.

The head of intelligence at Skatteverket, Patrik Lillqvist, said that the arrangements used by these companies were designed to secure tax advantages that would not have been available if they had been classified as crypto miners. 'The purpose is to obtain tax advantages that the companies are not entitled to,' he explained.

Bikupan Datacenter, one of the six companies ordered to pay additional taxes, has challenged its tax assessment and taken the dispute to Sweden's Supreme Administrative Court. The company claims that it was providing computing power to external mining pools that carried out the actual crypto mining, rather than engaging in mining activity itself.

However, Skatteverket maintains that the structures used by these companies gave them tax advantages for which they did not qualify. The agency has been critical of companies that have entered Swedish communities and used arrangements that it believes deprive the state of tax revenue.