Tax in Sweden

Mannheimer Swartling

Anders Erasmie heads up Mannheimer Swartling’s corporate taxation department, which has a broad set of expertise spanning knowledge of litigation and non-contentious matters. Recent court proceedings saw Erasmie representing insurance brokers in VAT disputes against the Swedish Tax Authority, and acting in income tax disputes for smart technology and consumer goods companies. Martin Nilsson and Niklas Hagbard advise on corporate transactions including M&A deals, restructurings, asset transfers and real estate sales. Joachim Agrell adds to the team’s indirect tax knowledge, handling complex VAT matters and international trade issues.

Practice head(s):

Anders Erasmie

Other key lawyers:

Martin Nilsson; Niklas Hagbard; Joachim Agrell

Testimonials

‘Very technically skilled team with a practical and problem-solving approach. Particularly strong in tax litigation.’

‘Niklas Hagbard is very knowledgeable, practical and provides consistent and reliable advice and is very easy to work with.’

‘Anders Erasmie is extremely technically skilled and practical.’

‘The tax team I work with always meet my expectations and deliver top quality both in writing and oral explanations.’

‘Anders Erasmie is the tax partner that is responsible for our account. He is exceptionally strong technically and very accurate. He is our primary tax advisor for tax controversies and litigations. He can think strategically what the best way forward for us in the current situation would be.’

Key clients

Swedish Match

Nordic Capital

Uniper

Cevian

Ratos

E.ON

Accent

Work highlights

  • Representing Nordic Capital in proceedings concerning the taxation of carried interest in private equity funds.
  • Advised Accent Equity on the divestment of 100% of its indirect shareholding in Aviator Airport Alliance AB and its subsidiaries to Avia Solutions Group.
  • Representing the insurance broker Marsh AB in a dispute where the Swedish Tax Agency has imposed additional VAT and tax penalties totalling SEK1.5m.

Advokatfirman Vinge

Advokatfirman Vinge’s tax department has exceptionally strong corporate transactional capabilities under practice head Mattias Schömer. Recent instructions involved high-value venture fund formations, private equity-driven IPO exits, market-first buyout fund establishments and recommended public offers. Associates Karolin Ekström and Victor Ericsson add strength to the non-contentious group. The equally strong tax litigation bench includes Maria Schultzberg and Ulrika Bengstsson, and represents international clients in disputes pertaining to cross-border profit allocation and exit taxes, carried interest in the private equity space and high-stakes tax reassessments.

Practice head(s):

Mattias Schömer

Other key lawyers:

Karolin Ekström; Victor Ericsson; Maria Schultzberg; Ulrika Bengtsson; Henrik Wastenson

Testimonials

‘Very good knowledge of the client’s business and its environment, including legal risks, ability to listen to the client and fast and efficiently respond to the client’s expectations, strong communication skills, high level of integrity.’

‘Maria Schulzberg – strong experience and knowledge of the business and its risks, pro-client approach, fact and responsive , ability to listen and actively react, high level of ethical standards.

‘Henrik Wastenson – fast and professional responses, strong analytical skills.’

‘Very business oriented and practical approach. Very experienced.’

Key clients

Segulah Medical Acceleration AB

EQT

Allfunds Bank S.A.

KFI Kapital

Adelis Equity Partners Fund I AB

Samhällsbyggnadsbolaget (SBB)

Datawatch AB

Vostok New Ventures Ltd

Work highlights

  • Handled the tax structuring issues relating to the establishment of Segulah Medical Acceleration, a Swedish venture fund.
  • Represents Swedish industrialist and investor Björn Savén in the tax court relating to the highest tax reassessment against an individual in Sweden of SEK1.5bn for a single tax year.
  • Representing EQT in various tax litigation matters regarding the tax treatment of carried interest in the private equity sector. Also assisted with tax due diligence and prospectus documentation in respect to the IPO/listing of EQT AB on Nasdaq Stockholm.

Bird & Bird

Bird & Bird’s tax practice is particularly well equipped to provide the full scope of advice to Swedish and international real estate funds, banks and private equity funds. Practice head Carl-Magnus Uggla applies his extensive experience to cross-border tax planning projects, corporate and M&A issues, fund formations, VAT determinations and investigations by the Swedish Tax Authority. Senior associate Victor Stålblad is an expert regarding the taxation of incentive schemes and related litigation, while senior counsel Staffan Anderson is retained by high-net-worth individuals on international and entrepreneur tax matters.

Practice head(s):

Carl-Magnus Uggla

Other key lawyers:

Victor Stålblad; Staffan Anderson

Key clients

2Many Freckles AB

Accountor AB

AF Gruppen

AirBnB

Ålandsbanken

ARM

Bain

Barings (Core Property Fund Europe)

Besqab

Boliden

Citi Group

Consensum Produktion AB

Delivery Hero

Deutsche Bank UK

Etraveli

Hiscox

HSB Projektpartner

Läkarleasing AB

Lateral Management

Live Nation

Mattssons Fastighetsutveckling AB

NorthStream AB

Oivor AB

Qvarts AB

Scandic

Shellback Industries

Shellback Industries AB

Telia

Tempur Sealy

TV4

Work highlights

  • Provided Qvartz, and the Swedish partners of Qvartz, the full-scope of transactional advice on the sale of the company to Bain Inc.
  • Advised HSB ProjektPartner AB on several real estate transactions including complex joint venture structurings and real estate developments.
  • Advising Besqab on a major real estate development comprising commercial property and 200 apartments.

DLA Piper

Key sectors of expertise for DLA Piper’s tax team include the real estate, life sciences, private equity and venture capital industries. Practice head Erik Björkeson and senior associate Magnus Hagevi have a strong corporate tax focus, acting as lead counsel on domestic and international share acquisitions and sales, fund establishments (including real estate funds) and all other M&A activity for blue-chip clients. The group also provides advice on internal tax assessments and transfer pricing issues.

Practice head(s):

Erik Björkeson

Other key lawyers:

Magnus Hagevi

Testimonials

‘DLA Piper’s tax team in Sweden is our go-to team when it comes to Swedish tax questions. They are responsive, practical and have good knowledge of the market.’

‘Erik Björkeson is always available and comes up with clear and practical answers to complicated problems.’

‘The strength of the team is the deep knowledge and fast feedback.’

‘Experienced tax team within M&A more generally, and also being boosted with new hires this year. Great value overall in terms of the advice.’

Key clients

Svenska S Holding 2 (CVC)

Work highlights

  • Representing Svenska S Holding 2 and CVC in a €16m tax dispute concerning interest deduction regulations.

Setterwalls

On the contentious side of Setterwalls’ tax practice, co-head Niclas Hermansson successfully represented construction clients in Supreme Court tax litigation brought by the Swedish Tax Agency concerning questions of tax validity.  Practice co-heads Sören Brekell and Christian Sjöqvist handle corporate and transactional tax mandates. Real estate is a particular sector of strength, with further clients sourced from the life sciences, fintech and e-commerce industries.

Practice head(s):

Niclas Hermansson; Sören Brekell; Christian Sjöqvist

Key clients

Züblin Scandinavia AB

True Software Scandinavia AB

Boozt AB

Arise AB

TB Gruppen AB

Skandia Fastigheter AB

Work highlights

  • Acted as lead counsel for Züblin Scandinavia AB in tax ligation admitted to the Supreme Administrative Court, concluding with a ruling fully in favour of the client.
  • Assisted Swedish street-level imagery platform Mapillary AB and its shareholders with the highly publicised sale of the company to Facebook, including complex cross-border withholding tax issues.
  • Advised National General on transaction-related tax issues in connection with its divestment of Swedish insurance company Euro Accident.

Wistrand

At WistrandNils Sköld and co-heads Peter Brandt and Peter Sandberg are go-to names for real estate tax issues, while Conny Otteland and Tomas Hecht handle tax litigation, including proceedings against the Swedish Tax Authority involving disputed tax liabilities. The partnership also includes co-heads Johan Linder Säverman, Victor Palm and Rickard Jonason, who advise on corporate tax issues including cross-border investments, transfer pricing work, corporate restructurings and M&A matters. Sectors of focus encompass the manufacturing IT, financial services and insurance industries.

Practice head(s):

Peter Sandberg; Johan Linder Säverman; Victor Palm; Peter Brandt; Rickard Jonason

Other key lawyers:

Nils Sköld: Conny Otteland; Tomas Hecht; Christian Luthman

Testimonials

‘Very experienced people/practical approach.’

‘Christian Luthman: He clearly oversees the playing field with a lot of experience and is very good at client handling.’

‘The practice is big but at the same time it gives a feeling of a personal practice by strong engagement of partner(s).’

‘Superior knowledge and capabilities of the fund and real estate industry and combined expertise of the complex tax environment that real estate funds are operating in. ’

‘Expertise, knowledge, speed, awareness and the ability to deliver extremely sharp service regardless of whether there is much time left or not.’

‘Very competent tax lawyers and professionals with an international approach.’

‘Rickard Jonason has a very smooth client handling and takes decisions quite quick.’

‘Always takes time to offer you a one-of-a-kind service. On tax Peter Sandberg stands out in all kinds of tax advisory, the hour of the day does not make any difference, always takes time to understand the case and offer different advice.’

Key clients

NIAM

Slättö Förvaltning AB

Baker McKenzie

Baker McKenzie’s tax practice provides tax structuring advice on the breadth of corporate transactions. Practice head Linnea Back routinely advises on cross-border M&A deals, carve outs capital markets issuances (including IPOs) and corporate restructurings. She also acts in transfer pricing litigation against the Swedish Tax Authority.

Practice head(s):

Linnea Back

Key clients

Mercury Engineering

The Livekindly Company, Inc.

A.P. Moller – Maersk

Gatusmak AB

Work highlights

  • Advising Mercury Engineering on the construction of large scale-data centres in Sweden for global companies.
  • Advised The Livekindly Company, Inc. on its acquisition of the Swedish plant-based meat company, Oumph!
  • Advised A.P. Moller – Maersk on its acquisition of KGH Customs Services, a Sweden-based specialist in trade and customs management services, from Bridgepoint Development Capital.

Advokatfirman Lindahl KB

Led by Uppsala-based practice head Anna Romell Stenmark, Advokatfirman Lindahl KB’s tax practice covers the full breadth of corporate transactional activity. Recent instructions include real estate acquisitions, corporate M&A work, strategic joint ventures and note issuances. Key sector strengths include the manufacturing, life sciences and automotive industries. The team is also advising on cross-border pension investment projects for asset management companies.

Practice head(s):

Anna Romell Stenmark

Testimonials

‘Great advisors with excellent, up-to-date knowledge about current practice at the Swedish tax authorities.’

‘With Lindahl’s efficient, service-minded and fit for purpose support, our collaboration creates value for our business.’

‘The firm has a broad set of in-house competences, from labour tax issues to private wealth work. They don’t shy away from novel solutions and are a good speaking partner for creative solutions.’

Key clients

Polygrade Holding AB (formerly Quixel AB)

Bengt Ågerup

Lulebo AB

Kommuninvest

Novavax AB

KlaraBo

HANZA Holding AB

Q-linea AB

Växjö Energi AB

Castellum Öresund AB

Palette Life Sciences AB

Gyros Protein Technologies AB

Sparinstitutens Pensionskassa, försäkringsförening

PledPharma AB

Nanexa AB

Work highlights

  • Advising KlaraBo on its agreement with municipal housing company AB TrelleborgsHem to acquire 27 properties containing 807 rental apartments and associated premises.
  • Advised the shareholders on the sale of financial technology company Algorithmica Research AB to specialist consultancy FCG.
  • Advised on the sale of Quixel to the US game development company Epic Games.

Linklaters

Linklaters’ head of tax Ebba Perman Borg routinely advises on cross-border corporate mandates spanning private equity deals, corporate M&A, real estate transactions, capital markets issuances and financings. Recent originated from clients in the healthcare, industrial, logistics, transport and financial services sectors. The group also has expertise in tax-related fund structurings.

Practice head(s):

Ebba Perman Borg

Testimonials

‘Within the field of M&A taxes and fund structuring, they are top of class. Always a pleasure to work with.’

‘Ebba Perman Borg has a solid combination of experience with handling cross-border matters, deep technical tax competencies and project management skills and is therefore a strong tax advisor in particular for transaction-related and cross-border tax matters, including fund structurings.’

‘They have the tax specialisation and precision you would expect from an international law firm and they are particularly strong in cross-border work. Also, their strength lies in combining legal and tax advice and they are able to identify the key issues at hand and create practical solutions.’

‘Ebba Perman Borg is exceptionally responsive and possesses excellent analytical skills.’

Key clients

Triton Partners

KKR

ASSA ABLOY AB

SPP Fastigheter AB

Akelius Residential Property AB

PostNord

Alecta

GLL Real Estate Partners

Work highlights

  • Advised nine underwriters in connection with EQT AB’s IPO and listing on Nasdaq Stockholm.
  • Advised Akelius Residential Property on the issuance of its €500m subordinated fixed to reset-rate capital securities.
  • Acted for Actor SCA on its sale of shares in Ambea.

Magnusson Advokatbyrå

At Magnusson AdvokatbyråEric Cederström provides advice on the corporate tax elements of transactions, with particular expertise in investment fund structuring work including debt, private equity and regulated funds. The team also assists with company restructurings and cross-border M&A, and Cederström acts in tax disputes against the Swedish Tax Authority concerning the classification of interest and dividends.

Practice head(s):

Eric Cederström

Testimonials

‘Service minded, efficient, professional.’

‘Eric Cederström is efficient and gives good and practical advice.’

Key clients

Mercer Global Investments

Söderberg & Partners

Pareto Securities

Nineyards, VFE Holding

Intersolia

Nordic Credit Partners

Pollux Capital

Fastighetsmäklarförbundet, FMF AB

Riksidrottsförbundet

Svenska Bostadsfonden

Project A Ventures

Work highlights

  • Advised Pollux Capital in relation to the closure of a $7.3m investment round in Luthman Backlund Foods.
  • Advising Svenska Bostadsfonden (Sweden’s largest provider of funds investing in rental apartment buildings) regarding the structure and setup of its most recent fund and transaction to merge two institutional real estate funds.
  • Advised consultancy company Rouse on tax matters relating to acquisition structuring issues regarding the acquisition of Valea, Swedish IP consultant and advisory company.