ARTICLE · 07 MAY 2004

New Possibilities for Foreign EU Life Insurers in Sweden

Advokatfirman Hamilton & Co

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The Swedish Supreme Administrative Court delivered on 4 May 2004 a judgement in the case of Försäkringsaktiebolag Skandia and Ola Ramstedt v. Riksskatteverket (the National Tax Board).

SwedenStrategy

Peter Kullgren

Summary

The Swedish Supreme Administrative Court delivered on 4 May 2004 a judgement in the case of Försäkringsaktiebolag Skandia and Ola Ramstedt v. Riksskatteverket (the National Tax Board).

The case deals with the Swedish tax rules relating to insurance contracts which distinguish between pension insurance and endowment insurance and apply different tax regime to them.

The Swedish Supreme Administrative Court states in the ruling (just as the Court of Justice of the European Communities did in June 2003) that the provisions on tax deductions for premiums paid under a occupational pension insurance policy (Sw: tjänstepensions-försäkring), requiring the insurance company to be established in Sweden, are not compatible with the rules concerning the freedom to provide services within the European Community (Article 49 of the EC Treaty).

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