Scope

Swedbank's Tax Policy applies for Swedbank AB and all subsidiaries.

Policy in brief

Swedbank recognises that tax revenue makes a substantial contribution to helping governments fulfil what societies expect from them. We comply with the tax systems where we operate and encourage our customers and suppliers to do the same.

Swedbank applies a conservative attitude with respect to tax issues and builds relationships with the tax authorities based on transparency and trust.

Our belief is that a fair and transparent tax system and a fair and transparent adherence to such a system constitute vital elements for a good society. This entails rights and obligations for both governments and taxpayers.

Each subsidiary shall comply with any applicable local or international tax law and regulation. The Group shall pay the correct amount of tax, in due time and with due consideration.

When seeking a cost-efficient organisation, tax costs shall be considered. By doing so, we are aligning the long-term interests of our stakeholders, society, shareholders, customers and employees. Swedbank shall apply a conservative attitude with respect to tax-reducing measures but not refrain from such measures merely because there might be different interpretations of tax or case law.

There is a difference between considering tax costs as part of a business transaction and reducing tax through wholly artificial arrangements. We engage only in the former.