Sweden Clarifies Deductibility of Negative Interest for Legal Entities and Individuals

On 31 March 2015, the Swedish tax authority issue revised guidance to clarify the deductibility of negative interest charged by banks. According to the guidance, negative interest charges may be treated as a tax-deductible expense for legal entities. However, for individuals, negative interest charges are not deductible, regardless of whether the charge is calculated based on the account balanc…
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