EQT loses battle in income tax war
EQT and a number of its employees will receive a tax bill of SEK 670m, according to Swedish newspaper Dagens Industri.
Swedish tax authority Skatteverket will reportedly notify around 20 individuals that are, or have previously been, employed by the Swedish private equity firm today (Monday 19 August).
EQT, among others, stands to lose the benefits of a 30% carried interest tax rate, which Skatteverket wants to replace with the higher income tax rate of 56% for people working at private equity firms in Sweden.
EQT stated it will appeal Skatteverket's decision.
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