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Swedish Tax Agency Endorses Tele2's Claims For Interest Deductions

The Swedish Tax Agency has endorsed Tele2's appeals regarding claims related to interest deductions on intercompany loans. The company will release 371 million Swedish kronor in provisions for taxes, with a positive effect on its second quarter 2021 results.

The Swedish Tax Agency has for the years 2013-2018 denied Tele2 Group deductions for interest expenses on intercompany loans, resulting in a negative tax effect of 350 million kronor, and associated interest of 21 million kronor as of 31 March 2021. Tele2 appealed the decisions, it previously made a provision for the total amount of 371 million kronor.

Following a ruling by the Supreme Administrative Court, the Swedish Tax Agency has now endorsed Tele2's claims for interest deductions for the years 2015-2018, resulting in a positive tax effect for Tele2 of 200 million kronor.

The remaining interest deduction claims for the years 2013-2014 with a tax effect of 150 million kronor are currently under review by the Administrative Court of Appeal in Stockholm.

Tele2 said it will also review how the Tax Agency´s revised position may impact Tele2´s taxes for 2019 and 2020, considering applicable legislation.

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